Markets open higher; Sensex gains 100 points, Nifty crosses 23,400:Metals stocks see buying interest, pharma stocks under pressure

Indian benchmark indices opened in positive territory on Wednesday, snapping a four-day loss, with buying interest seen in metal stocks, while pharmaceutical shares faced selling pressure. The BSE Sensex was trading 100 points, or 0.17%, higher at 74,700. The NSE Nifty also advanced 30 points, or 0.12%, to move above the 23,400 mark during early trade. Pharma stocks under pressure Sector-wise, metal stocks witnessed buying support, whereas pharma counters recorded the highest selling activity in today’s session. Asian markets trade mixed Most Asian markets traded with gains on Wednesday, although Hong Kong’s Hang Seng index remained marginally lower. US markets end mixed overnight Wall Street indices closed on a mixed note in the previous session. FIIs continue selling Foreign institutional investors (FIIs) remained net sellers on Tuesday, offloading equities worth ₹1,959 crore. Domestic institutional investors (DIIs), however, continued to provide support through sustained buying. Note: Net buying/selling figures are in crore rupees. Market declined sharply in previous session On May 12, Indian equities witnessed a sharp sell-off for the fourth consecutive trading session. The Sensex plunged 1,456 points to close at 74,559, while the Nifty dropped 436 points to settle at 23,379. Over the past four trading sessions, the Sensex has declined by nearly 3,500 points, while the Nifty has fallen close to 1,000 points.