Markets trade higher in early trade; Nifty tests 17k level

Sensex and Nifty

Benchmark indices were up in the early going on Wednesday in Mumbai due to fresh foreign money inflows and buying in HDFC Twins.
In the first round of trading, the 30-share BSE Sensex rose 218.68 points to 57,832.40. The NSE Nifty, a wider index, increased 71.5 points to 17,023.20.
Mahindra & Mahindra, Hindustan Unilever, HCL Technologies, Tata Motors, Bajaj Finserv, Bajaj Finance, HDFC Bank, and HDFC were among the Sensex companies that had the most gains.
The leaders were Tata Steel, IndusInd Bank, Reliance Industries, and Axis Bank.

Japan and Hong Kong were trading higher on Asian markets, while Seoul and Shanghai were trading down.
The American stock markets fell on Tuesday.

“The market is expected to be range-bound for a few days before changing course in the absence of short-term indications. Markets would be impacted by information linked to the banking crisis, the Fed’s response to inflation, and other factors in the near future “V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.

On Tuesday, the Sensex finished 40.14 points, or 0.07 percent, lower at 57,613.72. The Nifty closed at 16,951.70, down 34 points, or 0.20 percent.

Brent crude, the benchmark for all crude oil, increased 0.19 percent to USD 78.80 a barrel.

According to market data, Foreign Portfolio Investors (FPIs) switched from being sellers to buys on Tuesday, purchasing shares of stock worth Rs. 1,531.13 crore.