NSE & BSE trade lower in early trade, gain momentum later

Mumbai: Benchmark stock indices open on a lower note on Wednesday. However, both indices gained momentum and are trading on a positive note. The NSE opened at 18,294.80 and the BSE opened at 61,834.28. Now, NSE is trading at 18,365.75 and the BSE is trading at 62,065.49. The market remains strictly volatile. On Tuesday, the NSE closed at 18,348 while the BSE closed at 61,981.79.

Position of stocks listed in BSE

As per the live data on BSE, 20 scrips are trading in the green zone while 10 scrips are trading in the red zone. The NSE live data showed that 32 stocks are gaining and 17 stocks are losing. From the Sensex pack, NTPC, HCL, Powergrid, ITC, and SBI are bullish stocks while WIPRO, Tata Steel, Hindustan Unilever, and HDFC are bearish stocks.

Performance of markets worldwide

The combined impact of the prolonged US debt ceiling negotiations and the unexpected turn in New Zealand's monetary policy created a gloomy sentiment across Asian markets. Investors remained cautious as they awaited further developments in both areas, closely monitoring the progress of the debt ceiling talks and analysing the implications of the Reserve Bank of New Zealand's decision.

The price of crude oil went up even though other stocks were declining. This happened because the Saudi energy minister cautioned speculators, who are people or entities that buy and sell oil contracts for profit, that there might be further reductions in the amount of oil produced by OPEC+ countries. This raised the expectation that the supply of oil could decrease, leading to higher prices.

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