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Market opens on a positive note, Sensex crosses 30k mark, Nifty opens above 9300 level

At 9:15 am the BSE Sensex opened at 30,005 up 0.28%, while the Nifty50 opened up by 0.29% at 9340 mark.

Indiabulls Housing Finance is the top Nifty gainer and Lupin is the top Nifty loser in the morning hours. Indiabulls Housing Finance is trading at Rs 1075.05 per share up by 5.71% whereas Lupin is trading at Rs 1303.90 per share, down by 2.57%.

There are 995 advances, 415 declines and 492 unchanged stocks on NSE reflecting some positive bias floating in the market.

The rupee opened at 64.12 per US dollar higher by around 9 paise. On Tuesday, the rupee closed at 64.21 per US dollar.

Nifty50 needs to hold above the level of 9,350 to continue its upward momentum. If it does hold above 9,350, it is likely to scale up to the level of 9,400. On the downside, the zone of 9,250-9,270 is a crucial support zone, and if Nifty50 trades below this support zone, it is likely to test the level of 9,200.

The US stocks ended Tuesday’s session with marginal gains with the tech-heavy Nasdaq Composite finishing at a record high for the second session on the back of robust earnings. However, investors mostly held off from making big bets, with the Federal Reserve engaged in a two-day policy which ends on Wednesday. The Dow Jones Industrial Average gained 35 points to close at 20,950. The S&P 500 index rose 3 points to end at 2,391. The Nasdaq Composite Index gained 4 points to finish at a record level of 6,095.

Asian markets are trading in the green territory on Wednesday. Japan’s Nikkei 225 advanced 135 points. Hong Kong’s Hang Seng is trading with gains of 81 points, while China’s Shanghai Composite is trading flat.