The BSE Sensex opened higher by 235 points at 68 31272, while the Nifty50 opened higher by 6 points at 9619 mark.
Tata Power is the top Nifty gainer and Bharti Airtel is the top Nifty loser in the morning hours.
There are 794 advances, 862 declines and 88 unchanged stocks on NSE reflecting a negative bias floating in the market.
The Nifty50 index saw a strong supply around levels of 9,640-9,650 in the previous session and, hence, the zone of 9,640-9,650 may continue to act as a strong resistance zone. On the flip-side, the level of 9,580 may act as an immediate support level for Nifty50, but if the index fails to hold this support level, it may witness further correction up to the levels of 9,550 and 9,530.
The rupee opened at 64.68 per US dollar appreciated by 6 paise. On Tuesday, The rupee made a smart recovery after Monday’s plunge, appreciating by 14 paise to close at 64.74 against the US currency on fresh bouts of dollar selling exporters and banks.
American stock exchanges were closed on Tuesday on account of Independence Day holiday.
Asian bourses were under pressure in early trade amid heightened geopolitical concerns on Wednesday. Japan’s Nikkei 225 has plunged 121 points; Hong Kong's Hang Seng has slipped 38 points, while China’s Shanghai Composite is trading flat with negative bias.
Oil rates rebounded slightly on this Tuesday from a very big falls in current sessions, but the Brent crude remained close to 7-month lows around 60dollor a barrel due to rising trade tensions between the China and the U.S.
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