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Indices trade higher for third consecutive session as Metal stocks shine

The BSE Sensex opened higher by 453 points at 50,749.95, and Nifty-50 added 141 points at 15,060.10.

Photo Credit :

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The bull run continues for the third day in a row as markets opened higher on Wednesday, March 3. Buying in Metal stocks backed the markets today in the early trade. The foreign markets were trading mixed as U.S markets closed lower on heavy sell-off in technology stocks. 

Trends on SGX Nifty - the Singaporean index, indicated a positive opening for the indian market, say analysts.

The BSE Sensex opened higher by 453 points at 50,749.95, and Nifty-50 added 141 points at 15,060.10. In the pre-market session, Nifty-50 crossed 15,100 and Sensex was up 416 points at 50,713.82. Out of 30 stocks, 24 shares added gains in the BSE index.

Shares of Tata Steel and JSW Steel bagged the top gainers of the Index as strong buying in the Metals led the indices to trade higher. Tata Steel was up over five per cent and JSW Steel was up over three per cent in the early trade.

After witnessing frequent stressful sessions, the public sector banks added gains today in the morning session. The Nifty PSU Bank index added over three per cent. Shares of Canara Bank and PNB gained over four per cent each. 

All sectors were trading positive except for Nifty Auto. The Auto sector witnessed profit booking by traders as the stocks in the sector added gains in the previous sessions on better than expected figures for February. 

As per yesterday's data, the Foreign investors have backed the Indian markets with strong inflows in the previous session. On Tuesday, the FIIs (Foreign Institutional Investors) bought shares worth Rs 2,223 crore in the Indian markets.

Market participants will also keep an eye on the public issue of MTAR Technologies - a precision engineering company. The issue will open today and the company plans to raise Rs 596 crore via IPO (Initial Public Offering).


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