India markets began Wednesday in the green with tech stocks leading the charge, lifting benchmark indices Sensex and Nifty.
Sensex gained more than 366 points and Nifty over 80 points on Wednesday morning trade. Infosys, Sun Pharma, TCS, ITC, ICICI Bank, Titan, Tech Mahindra, HDFC Bank, Airtel, and Bajaj Finance gained considerably while Zomato, Tata Motors, PowerGrid, IndusInd Bank, State Bank of India, Tata Steel and Adani Ports traded in the red in the Sensex.
The offloading of Indian stocks by foreign investors (FIIs) continued, with them selling off Rs 5,920.28 crore worth of equities on Tuesday.
A day after Donald Trump's swearing-in, Wall Street ended higher on Tuesday.
The positive Wednesday morning in India seems to be a recovery from Tuesday's bear run, where Sensex shed more than 1,235 points, and Nifty fell by at least 320 points in the day.
The Indian currency, however, saw high volatility earlier on Wednesday as global factors battled it out with the positive sentiment surrounding the domestic equity market.
The rupee opened at 86.56 and fell to a low of 86.71 against the dollar. Experts, such as CR Forex Advisors MD Amit Pabari, urged traders to remain cautious, given that the union budget is "around the corner."
Pabari also projected that the rupee could trade between 86.20 and 86.80 against the dollar, looking ahead.
