Equity indices tick up amid volatility, metal stocks shine
Mumbai: Equity benchmark indices ticked up in early deals on Wednesday with PSU banks and metals gaining ground.
At 10:15 am, the BSE S&P Sensex was up by 354 points or 0.71 percent at 50,106 while the Nifty 50 edged higher by 113 points or 0.77 percent to 14,820.
Except for Nifty IT and FMCG, all sectoral indices at the National Stock Exchange were in the green zone with Nifty PSU bank gaining by 2.7 percent, metal by 1.1 percent, and auto by 1 percent.
Among stocks, Coal India was up by 4.6 percent to Rs 143.20 per share while JSW Steel advanced by 1.4 percent to Rs 418.30.
Bajaj Finance was up by 2.6 percent, State Bank of India by 1.9 percent, Axis Bank by 1.8 percent, Hero MotoCorp by 1.6 percent, and Eicher Motors by 1.3 percent. However, Tata Consultancy Services, UPL, Power Grid Corporation, GAIL, Dr. Reddy's, Kotak Mahindra Bank, and Hindustan Lever traded with a negative bias.
Meanwhile, Asian equities opened lower on concerns about rising interest rates and rich equity valuations. South Korea's Kospi shed 0.6 percent while Japan's Nikkei 225 was down by 0.97 percent. Hong Kong's Hang Seng index slipped by 1.92 percent.
