All sectoral indices are trading in the green, with most gains seen in metals, infrastructure, banks and automobiles
Banks under PCA rise Banks such as Allahabad Bank, Oriental Bank of Commerce and United Bank of India, among others, are surging in trade today after Shaktikanta Das was chosen as the RBI Governor.
Yes Bank surges Shares of Yes Bank traded around 3 percent higher ahead of its Board Meeting to name a successor to Rana Kapoor.
Market opens It is a positive start for the market on Wednesday morning, as investors reacted to double news of Shaktikanta Das being appointed RBI governor as well as results to state elections in five states.
The Sensex is up 128.23 points or 0.36% at 35278.24, while the Nifty is higher by 33.20 points or 0.31% at 10582.40. The market breadth is positive as 314 shares advanced, against a decline of 93 shares, while 12 shares were unchanged.
All sectoral indices are trading in the green, with most gains seen in metals, infrastructure, banks and automobiles.
Shares of Yes Bank and Sun Pharmaceuticals and Indiabulls Housing were the top gainers, while Coal India, ICICI Bank, and Dr Reddy's Laboratories lost the most.
RUPEE OPENS The Indian rupee opened lower by 35 paise at 72.20 per dollar on Wednesday versus 71.85 yesterday.
Market at pre-open Equity benchmarks have begun higher in pre-opening trade, with the Nifty trading above 10,500.
The Sensex is up 113.60 points or 0.32% at 35263.61, and the Nifty up 60.70 points or 0.58% at 10549.20.
IPO UPDATE | China-based music streaming company Tencent Music Entertainment Group said it raised close to $1.1 billion in its US initial public offering (IPO) after pricing its shares at the bottom of its targeted range.
The music arm of gaming and social network giant Tencent Holdings Ltd priced its American Depositary Receipts (ADRs) at $13 per share, at the low end of its indicated $13 to $15 per share range, it said in a filing with the Hong Kong stock exchange.
The IPO values Tencent Music at $21.3 billion and shows how companies are defying a bout of market volatility with flotations.
