Benchmark stock market indices opened lower on Wednesday, but quickly recovered to trade in green. FMCG sector stocks dragged the market down. ITC shares were down over 3% in early trade.
The S&P BSE Sensex added 47.28 points to 81,598.91, while the NSE Nifty50 was up 18.25 points to 24,844.45 as of 9:20 am.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that positive cues from the US market, weak dollar and soft gold will provide a favourable macro construct for the equity market today.
“Large liquidity with the mutual funds and the trend of sustained SIP inflows would encourage fund managers to buy consistently. Tariff-related issues and President Trump’s comments on a whole host of economic and non-economic issues would continue to weigh on markets,” he added.