Sensex rises marginally on falling US Treasury yields; Nifty above 19,800
US Treasury yields, spurred by renewed hopes for an end to the rate hike cycle and as oil prices hovered around $80 per barrel ahead of the OPEC+ meeting.
The BSE Sensex was trading 47 points or 0.07% higher at 66,016. Nifty50 was trading at 19,823, up 29 points or 0.15% at around 9.17 am.
Domestic macroeconomic data and sustained domestic investor inflows also aided the rise in Indian equities.
From the Sensex stocks, UltraTech Cement, Power Grid, NTPC, Wipro, and Axis Bank opened with gains, while ICICI Bank, M&M, Reliance Industries, L&T, and Tech Mahindra opened with cuts.
Paytm shares dipped 1.4% after Warren Buffet's investment arm, BH International Holdings exited Paytm's parent through open market transactions in a Rs 1,370 crore deal.
Shares of KPI Green Energy rose nearly 4% after the firm received a new order of a 4.66 MW Solar Power Plant under the CPP segment.
On the sectoral front, Nifty Metal rose 1.07%, and Nifty Oil & Gas surged 0.83%.
Nifty Auto, Media, IT, Pharma, and Realty also opened higher.
Deven Mehata, Research Analyst at Choice Broking, said, «According to the charts Nifty may be taking support at 19750, followed by 19,720 and 19,680. On the higher side, 19,850 can be an immediate resistance, followed by 19,900 and 19,950.»
Global Markets
Wall Street equities closed lower on Monday as investors digested weak U.S.
