Stock markets opened with gains, Sensex-Nifty rose only this much

Indian benchmark equity indices, Sensex and Nifty, opened with gains of more than 1% on Wednesday. During this, banking and IT stocks strengthened. Traders re-evaluated the possibility of a US recession after global cues.

The 30-share sensitive index Sensex of the Bombay Stock Exchange (BSE) was seen trading at 79,353.53 with a gain of 740 points at 9.20 am and the Nifty was also seen trading at 24,289.50 with a gain of 296.55 points at around the same time.

The market capitalization of all the companies listed on the BSE increased by Rs 4.53 lakh crore to Rs 444.12 lakh crore. Among the Sensex stocks, Infosys, HDFC Bank, ICICI Bank, Mahindra & Mahindra and Reliance Industries were the main contributors to the index. ITC, TCS, L&T, Axis Bank and SBI also supported the uptrend.