Market Opening Bell: NIFTY50 trades above 24,600 level, SENSEX up 360 pts; Tata Steel top gainer

The Indian stock market on Wednesday, May 14, opened with gains following the global cues and easing tensions between India and Pakistan.

Easing retail inflation also added to the market optimism. On Tuesday, retail inflation hit a six-year low of 3.16% in April 2025, from 3.34% in March, driven by a sharp fall in food prices, official data showed on Tuesday.

The broader market extended its gain for the third day as both the NIFTY Midcap 100 and NIFTY Smallcap 100 surged 0.55% and 0.53%, respectively.

Among sectors, except for Nifty Pharma (0.11%), all the others were trading in green. Nifty Metal took the lead with 1.58% gains, followed by Nifty IT (0.85%) and Nifty Oil and Gas (0.66%).

The market breadth also remained in favour of bulls in the opening session.

According to exchange data, the foreign institutional investors (FIIs) bought ₹1,246.48 crore worth of equities on a net basis on Tuesday.

Stocks like Tata Steel and Bharti Airtel soared on Wednesday after their January-March quarter earnings updates.

Globally, Asian benchmark indices traded mixed on Wednesday morning, with Japanese indices paring gains of last week’s rally.

Japan's Nikkei 225 was trading lower by 0.72% to 37,913.55, while Singapore's Straits Times slipped 0.33% to 3,868.42 levels.

On the other hand, Hong Kong's Hang Seng and South Korea's KOSPI gained 1.37% and 1.39%, respectively. The Shanghai Composite was trading 0.12% higher at the 3,379.35 level.

The benchmark US indices closed higher on Tuesday after the inflation print came in softer than the estimates.

The S&P 500 rose 42.36 points, or 0.72%, to 5,886.55, and the Nasdaq Composite gained 301.74 points, or 1.61%, to 19,010.09 levels. However, the Dow Jones Industrial Average declined 269.67 points, or 0.64%, to close at 42,140.43.

As many as 2,381 stocks traded on the NSE during the early session, among which 1,830 stocks were trading in the green, 500 in the red and 51 shares remained unchanged.

This indicated that the market breadth was in favour of positive.

Meanwhile, 32 stocks hit their one-year highs in the early trade, while only 4 stocks touched their 52-week lows.

Further, 74 stocks hit their upper circuits, while 8 hit their lower circuits.

India VIX, the volatility gauge, was trading 1.60% lower at 17.91 levels.

On the 50-share index, Tata Steel was the top gainer, rising 4.1%. Shriram Finance (2.78%), Bharti Airtel (2.09%), Hindalco (1.64%) and Trent (1.52%) were the other top contributors.

On the other hand, Hero MotoCorp (-2.34%), Tata Motors (-1.55%), Cipla (-1.39%), Asian Paints (-1.04%) and Eicher Motors (0.17%) were the biggest losers.