Stock Advisory in Indore >> Sensex, Nifty Edge Higher, Sun Pharma Falls Over 2%

The Sensex gained over 150 points in the opening, while the Nifty50 index crossed the 9,900 mark

Indian shares opened higher on Wednesday after six straight of correction as Asian shares rose on hopes of progress on major tax reforms in the United States. The Sensex gained over 150 points in the opening trade, while the Nifty50 index crossed the 9,900 mark. However, the indices failed to sustain initial gains and as of 9:30 am, the Sensex was up 45 points at 31,644 and the Nifty traded 7 points higher at 9,879. Gains in the market were led by banking stocks with Nifty Bank, the banking sub-index of the National Stock Exchange (NSE), rising 0.35 percent.

Among Nifty stocks, Ambuja Cement, IOC, ACC, BPCL and HDFC Bank were the top five gainers rising between 0.6 percent and 2.2 percent. TCS, Maruti Suzuki, Hero MotoCorp, GAIL India and Power Grid were the other prominent gainers in the Nifty.

Meanwhile, Sun Pharma was the biggest loser in Nifty, down 2.32 percent followed by Adani Ports, Indiabulls Housing Finance, Vedanta and Coal India, which fell between 1 percent and 1.8 percent. 

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