Mumbai, June 18
The domestic benchmark indices opened lower on Wednesday amid rising geopolitical tensions, but turned green in the early trade as buying was seen in the auto, IT and PSU bank sectors.
At around 9.32 am, Sensex was trading 160.49 points or 0.20 per cent up at 81,743.79 while the Nifty added 57.40 point or 0.23 per cent at 24,910.80.
Nifty Bank was up 33 points or 0.06 per cent at 55,747.15 The Nifty Midcap 100 index was trading at 58,358.95 after dropping 20.35 points or 0.03 per cent. Nifty Smallcap 100 index was at 18,412.80 after declining 7.55 points or 0.04 per cent.
According to analysts, the market's hopes for de-escalation in in the Middle East war faded, as US President Donald Trump called for ‘Unconditional Surrender’ from Iran. Latest posts by Trump and the US defence movements in West Asia signal aggravation of the conflict, said market experts.
However, there is no panic in global equity markets and it appears that the markets’ assessment is that this conflict will end soon without impacting the global economy," added Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
In the Sensex pack, Power Grid, Kotak Mahindra Bank, Infosys, HDFC Bank, Axis Bank, NTPC and M&M were the top losers. Whereas, Indusind Bank, HCL Tech, Sun Pharma, Eternal and TCS were the top gainers.