Indian equity markets started on a positive note this Wednesday as both the BSE Sensex and Nifty50 opened higher.
The BSE Sensex climbed over 100 points while the Nifty50 soared above the 22,530 mark in the early trading session.
At 3:01 p.m., the NSE Nifty witnessed a rise of 36.20 points, reaching 22,565.25, whereas the BSE Sensex recorded an increase of 128.61 points standing at 74,081.
The trading session saw active participation with 3,835 stocks being actively traded.
Shrey Jain, Founder and CEO of SAS Online, India's Deep Discount Broker, said, "Indian equity markets indicate that the BSE Sensex and NSE Nifty 50 may trade on a subdued note today.
Today, substantial Put writing across multiple strikes indicates limited downside potential, while resistance is likely at the 22,700 level."
In anticipation of today's weekly expiry, significant open interest (OI) at the 48,000 Call and Put levels suggests potential consolidation around the current levels in the Bank Nifty.
The 48,000 Call strike has an OI of approximately 3.7 million shares, while the 48,000 Put strike has an OI of around 3.2 million shares.
Among the top gainers on the NSE were Hindustan Unilever, Britannia, Tata Consumers, Coal India, and Reliance.
However, some major losers included BPCL, Hero Motocorp, Hindalco, Apollo Hospitals, and Sun Pharma.
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