Equity indices continue upward trajectory, Axis Bank top gainer

Equity benchmark indices maintained their upward momentum during early hours on Wednesday with traders opting for buying across the counters.

At 10:15 am, the BSE S&P Sensex was up by 302 points or 0.52 per cent at 57,854 while the Nifty 50 rose by 79 points or 0.46 per cent to 17,212.

Sectoral indices were mixed with Nifty realty up by 1.7 per cent, private bank by 1.5 per cent, PSU bank by 1 per cent and auto by 0.4 per cent. But Nifty metal slipped by 1.1 per cent and IT by 0.3 per cent.

Among stocks, Axis Bank advanced by 3.6 per cent to Rs 815 per share while IndusInd Bank rose by 2.6 per cent, ICICI Bank by 1.8 per cent and State Bank of India by 1 per cent.

The other major gainers were Eicher Motors, Bajaj Auto, Tata Motors, Hindustan Unilever, Nestle India, Reliance Industries and Dr Reddy's.

But metal scrips lost shine with Tata Steel losing by 1.8 per cent, Hindalco by 1.2 per cent and JSW Steel by 0.9 per cent.

Meanwhile, Asian shares gave up some of their recent gains in cautious trading as worries about slowing global growth in several markets returned to weigh on traders' minds.

MSCI's broadest index of Asia Pacific shares outside Japan fell 0.40 per cent, edging off a three-week high reached the day before.

Japan's Nikkei however gained 0.89 per cent, boosted by data showing that Japanese companies' capital spending rose in the second quarter, the first such increase since the pandemic began.

(ANI)

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