SENSEX recovers from the day's low, trades flat, NIFTY50 hovers around 22,950; T&D (India) shares hit 5% upper circuit

During the opening bell, the S&P BSE SENSEX was trading at 75,621.23 levels, down 346.16 points, or 0.46%, while the NSE's NIFTY50 index was trading at 22,844.50, down 100.80 points, or 0.44%.

However, amid the highly volatile trade, the equity indices rebounded.

At 9:53 am, the S&P BSE SENSEX was trading at 76,037.84 levels, up 70.45 points, or 0.09%, while the NSE's NIFTY50 index was trading at 22,961.70, up 16.40 points, or 0.07%.

As many as 22 stocks on the NIFTY50 index were trading in the green and 27 in the red.

Meanwhile, the broader market was trading positively during the opening bell.

BSE Healthcare was the biggest loser among the sectors, falling 1.26%.

The top five losers were Dr Reddy’s, Sun Pharma, Cipla, Mahindra and Mahindra (M&M), and Tata Consultancy Services (TCS), falling as much as 2.81%.

Globally, the US markets closed at higher levels on Tuesday as market participants digested hawkish comments by the Fed officials and focused on the robust economic situation. The S&P 500 closed at record high levels, and the Dow Jones and NASDAQ closed 0.2% higher.

Asian markets traded mixed across the board. Japanese indices fell over 200 points on Wednesday, and Hong Kong indices traded lower. On the other hand, Chinese indices traded higher on optimism about the Chinese government's regulatory situation after Xi held a meeting with key business leaders in China.

The foreign investors turned net buyers on Tuesday in the equities segment worth ₹4,700 crore after considering a block deal from Bharti Airtel. The DIIs continued their buying streak by buying equities worth $3,082 crore. In the derivatives segment, the FIIs hold short positions of 1.87 lakh contracts, a little higher than the previous day.

The forex market will remain closed on Wednesday on account of 'Chhatrapati Shivaji Maharaj Jayanti.'

Stocks in news

The inspection concluded with five observations. The observations are procedural and will be responded to within the stipulated time, the company added.

The Anil Agarwal-led company aims to restructure itself into five separate entities—Vedanta Ltd, Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Steel and Ferrous Materials, and Vedanta Power.

The order placed by Hyosung T&D India Pvt Ltd is to be executed by the next financial year, Transformers and Rectifiers (India) said in an exchange filing.

Broader market

During the morning trade, the broader market remained in the positive territory with the BSE MidCap index at 39,692.23, advancing 137.98 points, or 0.35%, while the BSE SmallCap index inched higher by 614.26 points, or 1.38%, at 44,224.70 levels.