Market opening: NIFTY50 at 25,144, SENSEX up 155 points as IT stocks rally; Titan, Infosys top gainers

The Indian stock market opened flat on Wednesday, October 8, mirroring mixed global cues, with the IT and consumer durables sectors emerging as the top gainers.

The broader market was also trading higher, with both Nifty Midcap 100 and Nifty Smallcap 100 climbing 0.06% and 0.12%, respectively.

Among sectors, Nifty IT (1.41%) led the gains, driven by strong rallies in Infosys, Coforge, and LTIMindtree. Nifty Consumer Durables (0.98%), Nifty Metal (0.28%), Nifty Auto (0.15%), and Nifty Private Bank (0.08%) also traded in the green.

Meanwhile, Nifty Realty (-0.50%), Nifty PSU Bank (-0.36%), Nifty FMCG (-0.24%), and Nifty Pharma (-0.15%) were among the top laggards.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) bought equities worth ₹1,440.66 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹452.57 crore worth of equities.

Globally, most of the Asian markets were trading on a subdued note, as Japan's Nikkei was largely unchanged at 47,950. Hong Kong's Hang Seng dropped nearly 1%, Taiwan Weighted dropped 0.77%, and Singapore's Straits Times fell 0.4%.

On Wall Street, indices ended lower as investors tracked political developments in France and Japan, along with concerns over a potential US government shutdown, even as gold futures surged past $4,000 an ounce for the first time.

The Dow Jones Industrial Average fell 91.99 points, or 0.20%, to 46,602.98; the S&P 500 declined 25.69 points, or 0.38%, to close at 6,714.59; and the Nasdaq Composite dropped 153 points, or 0.67%.

As many as 2,655 stocks traded on the NSE during the early session, among which 1,695 were trading in the green, 872 were trading in the red, and 88 shares remained unchanged.

This indicates that the market breadth was in favour of advances.

Meanwhile, 57 stocks hit their one-year highs in the early trade, while 43 stocks touched their 52-week lows.

Further, 54 stocks hit their upper circuits, while 23 hit their lower circuits.

India VIX, the volatility gauge, was trading 0.92% up at 10.14 levels.

Titan was the most contributing stock, rising 4.19%, followed by Infosys (1.85%), Tata Consultancy Services (1.3%), Tech Mahindra (0.90%) and Wipro (0.75%).

On the flip side, Bajaj Auto (-0.72%), Sun Pharma (-0.71%), Power Grid (-0.62%), Cipla (-0.59%) and UltraTech Cement (-0.48%) were the biggest losers among the 50-share index.