Sensex gains 250 pts on the open, Nifty50 above 16,100; Key points

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Major benchmarks were trading in the green on Wednesday morning despite mixed global signals. As of 09:15 IST, the Sensex was up 219.76 points or 0.41% at 54106.37, and the Nifty was up 61.10 points or 0.38% at 16119.40.

Global indices

Major Asian stocks started slightly higher on Wednesday morning after two days of big losses, although gains were limited by lingering worries about a possible recession and China’s latest Covid-19 outbreak. The MSCI Asia-Pacific ex-Japan equity index rose 0.66%.

Shares in Tokyo opened higher on Wednesday ahead of a key U.S. inflation report and with growing concerns over rising Covid-19 cases in Japan and overseas. The benchmark Nikkei 225 rose 0.53%, or 138.69 points, to 26,475.35 in early trading, while the broader Topix index edged up 0.43%, or 8 .09 points, at 1,891.39.

Wall Street ended in negative territory on Tuesday as growing signs of recession kept buyers away from the stock market ahead of inflation data. The Dow Jones Industrial Average fell 192.51 points, or 0.62%, to 30,981.33, the S&P 500 lost 35.63 points, or 0.92%, to 3,818.8 and the Nasdaq Composite fell 107.87 points, or 0.95%, to 11,264.73.

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