Opening Bell: Headline indices trade higher after a positive opening

The Indian indices saw a good return at the start of the trading session on Wednesday.

The Indian indices saw a good return at the start of the trading session on Wednesday. The Nifty index moved above 16,100 levels. In the global developments, US President Joe Biden said they will ban Russian oil imports also, the United Kingdom announced that they are going to phase out their dependence on Russian oil by the end of 2022. 

The Foreign portfolio investors (FPIs) outflow was seen worth Rs 8142.60 crore; while domestic institutional investors (DIIs) inflow was seen of Rs 6489.59 crore in the Indian equity market on March 8.  

The BSE Sensex gained 382 points and is trading at 53,806.66. BSE Midcap has moved up by 171 points and is trading at 22,602.54, while the BSE Smallcap has also recovered by 310 points and is trading at 26,332.56 levels. 

The stocks trading in green on the BSE Sensex are Tech Mahindra, Reliance Industries, Sun Pharmaceuticals, Infosys, and Dr Reddy's Laboratories. The Nifty 50 index saw a gap up opening of 132 points and is now trading at 16,145.70 levels. Bank Nifty is also increased by 50 points and is trading at 33,208.50 levels. The gainers on Nifty 50 are Adani Ports, Reliance Industries, Sun Pharmaceuticals, Tech Mahindra, and Infosys. 

Out of 2722 stocks traded, stocks that advanced are 2197 and 445 stocks that have declined, while 191 stocks are locked up in the upper circuit and 84 stocks are locked in the lower circuit today morning. There are 40 stocks that are trading at a 52-week high and 10 stocks that are trading at a 52-week low.