The domestic benchmark indices opened in green on Wednesday amid positive global cues, as buying was seen in the IT and auto sectors in the early trade.
At around 9.32 am, Sensex was trading 536.4 points or 0.67 per cent up at 80,132.01 while the Nifty added 150.10 points or 0.62 per cent at 24,317.35.
Nifty Bank was up 187.10 points or 0.34 per cent at 55,834.30. The Nifty Midcap 100 index was trading at 54,756.85 after adding 359.70 points or 0.66 per cent. Nifty Smallcap 100 index was at 17,013.20 after climbing 109.55 points or 0.71 per cent.
According to market watchers, despite speculation surrounding US President Donald Trump’s influence on Federal Reserve policies, Nifty’s technical outlook remains robust above its 200-DMA at 24,051.
“The next target for Nifty is pegged at 24,858, with immediate supports at psychological levels of 24,000 and its 100-DMA at 23,397. Positive catalysts include India’s potential gains amidst US-China trade tensions,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Meanwhile, in the Sensex pack, HCL Tech, Tech Mahindra, Infosys, IndusInd Bank, TCS and Tata Motors were the top gainers. Whereas, only Kotak Mahindra Bank and Asian Paints were the top losers.
In the last trading session, Dow Jones in the US added 2.66 per cent to close at 39,186.98. The S&P 500 climbed 2.51 per cent to 5,287.76 and the Nasdaq added 2.71per cent to close at 16,300.42.