NIFTY50 trades above 25,100 level, SENSEX rises 124 points; oil and gas stocks rally, RIL top gainer

The Indian stock market opened with gains on Wednesday, June 11, as oil and gas stocks rallied after oil prices fell in early trade as markets were assessing the outcome of US-China trade talks.

The broader market was also trading positively, with Nifty Midcap 100 and Nifty Smallcap 100 advancing 0.25% and 0.29%, respectively.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold equities worth ₹2,301.87 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹1,113.34 crore worth of equities.

Globally, the US stocks ended higher as investors bet on positive results from US-China trade talks aimed at defusing a tariff dispute that has roiled global markets this year. 

The S&P 500 climbed 0.55% to end the session at 6,038.81 points. The Nasdaq gained 0.63% to 19,714.99 points, while the Dow Jones Industrial Average rose 0.25% to 42,866.87 points.

Taking cues from the US stocks, most of the Asian markets were trading higher on Wednesday.

Hong Kong's Hang Seng gained 0.82% to trade at the 24,360.33 level, while the Shanghai Composite was trading 0.53% higher at the 3,403 level. South Korea’s Kospi was trading 0.67% up at the 2,891.20 level.

Japan's Nikkei 225 was seen at the 38,355.38 level, rising 0.38%, while Singapore's Straits Times was trading marginally lower by 0.47% at the 3,915.24 level.

As many as 2,462 stocks traded on the NSE during the early session, among which only 1,754 stocks were trading in the green, 650 in the red and 58 shares remained unchanged.

This indicated that the market breadth favoured positive.

As many as 44 stocks hit their one-year high in the early trade, while only 8 stocks touched their 52-week low.

Further, 53 stocks hit their upper circuits, and 13 hit their lower circuits.

India VIX, the volatility gauge, was trading 1.23% lower at 13.84 levels.

Reliance Industries was the top gainer on the 50-share index, rising 1.74%, followed by Coal India (1.35%), Mahindra & Mahindra (1.17%), ONGC (1.07%) and Bajaj Auto (0.96%).

On the other hand, Shriram Finance (-1.26%), Jio Financial Services (-0.73%), Kotak Mahindra Bank (-0.70%), Grasim Industries (-0.63%) and Apollo Hospitals (-0.60%) were the top losers on Wednesday.

Nifty Oil and Gas took the lead among gainers, rising 1.33%. Nifty Media (0.90%) and Nifty Auto (0.79%) also surged in the early session.

Nifty PSU Bank (-0.43%), Nifty Private Bank (-0.25%) and Nifty Consumer Durables (-0.07%) were among the draggers.