BUY BANKNIFTY 34000 PE ABOVE 330 TRG 500-750 SL PAID. Indian equities opened higher for the third straight day, even as sentiment across the Asia-Pacific is mixed. Investors are taking cues from the risk-on sentiment witnessed overnight on Wall Street.
The S&P BSE Sensex surpassed its previous record high of 50,184 to open 0.9% higher at 50,231. The NSE Nifty 50 index has opened exactly at its previous record high of 14,754, with gains of 0.7%. Both benchmarks lodged their best two-day rally in 10 months on Tuesday.
Among sectoral indices, the Nifty Auto index opened 1.1% higher and was the best performing sectoral index at the start of trade.
The Nifty Bank and Nifty Pharma index gained 0.8% each while FMCG and PSU Bank indices gained 0.6% each in early trade.
The Nifty Metal index was the underperformer as trading begun, little changed from Tuesday’s levels.
Broader markets have opened in-line with the benchmark indices. The Nifty Midcap and Small cap indices have both opened with gains of 0.7% each.