Indian headline equity indices Sensex and Nifty50 opened higher on Wednesday, rebounding from a 1% drop in the previous session, led by gains in banking, auto, and . However, concerns over foreign fund outflows may limit further upside.
At around 9:22 am, the Sensex was up 224 points, or 0.28%, at 81,410, while the Nifty50 rose 48 points, or 0.20%, to trade at 24,732.
From the Sensex pack and were among the top gainers, rising up to 1.5%. On the other hand, opened with cuts.
Among individual stocks, rose 3% after announcing it had secured a Rs 253.6 crore contract from South Western Railway to implement KAVACH, an indigenous train collision avoidance system.
Shares of (UBL) jumped 2.3% after the company entered a leasing agreement with Ilios Breweries Pvt. Ltd. to expand its manufacturing capacity in Andhra Pradesh.
On the sectoral front, Nifty Auto, Bank, FMCG, Pharma, and Realty indices opened up to 1.5% higher, while Consumer Durables and Oil & Gas slipped up to 0.7%.
Meanwhile, the Nifty50 and BSE Sensex slipped on Tuesday as foreign portfolio investors offloaded shares worth Rs 10,016 crore ($1.2 billion), according to provisional data — the largest single-day outflow since February 28.