Share market opens slightly higher a day after general election results

Indian benchmark indices Sensex and Nifty opened in the green on Wednesday after a heavy crash on election results day. The NSE Nifty 50 opened 153.15 points or 0.70% higher at 22,037.65, while the BSE Sensex opened 489.14 points or 0.68% higher at 72,568.19.

Share market opening

The broader indices also opened higher. Bank Nifty opened a mere 0.64% or 301 points higher at 47,229.60. The Nifty sectors that saw deep cuts on Tuesday with the exception of Nifty FMCG, opened in the green on Wednesday. Nifty oil & gas, Nifty Auto, and Nifty PSU Bank were the top gainers.

At pre-open Nifty was at 22,128.35, up by 243.85 points or 1.11% and the Sensex was at 73,033.93, up by 948.83 points or 1.32%.

"Nifty can find support at 21,800 followed by 21,700 and 21,500, Deven Mehata, research analyst at Choice Broking told NDTV Profit. "On the higher side, 22,000 can be an immediate resistance, followed by 22,150 and 22,200."

Shares of Reliance Industries Ltd., Hindustan Unilever Ltd., Mahindra & Mahindra Ltd., Infosys Ltd., and HDFC Bank Ltd. led the initial gains. While those of Larsen & Toubro Ltd., Hindalco Industries Ltd., Axis Bank Ltd., ICICI Bank Ltd., and Power Grid Corp. Of India Ltd. capped the upside.

Meanwhile, Rupee also strengthened by 6 paise to close at 83.46 against the US dollar.

Also Watch: Lok Sabha Poll results: Sensex, Nifty tumbles 5% to log the worst session in over 4 years