The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,303 level, a premium of nearly 31 points from the Nifty futures’ previous close.

Pharma index tumbled 1 percent led by a sharp downfall in Dr Reddy's, Lupin and Glenmark. A fall in HUL, ITC, and Nestle dragged the FMCG index lower by half a percent.

Stock Market LIVE Updates | Following gains in Asian markets, Indian benchmark equity indices opened higher for the second straight day on Wednesday, driven by banking, IT, and energy stocks. The BSE Sensex climbed 251 points,

Reliance Industries Ltd., HDFC Bank Ltd., Maruti Suzuki Ltd., Kotak Mahindra Bank Ltd., Larsen & Toubro added to the Nifty 50 index.

Indian stock markets are likely to open on a weaker note, tracking negative cues from global markets. Gift Nifty futures were trading 0.06% lower at 23,290 around 8:30 AM, signaling a cautious start for domestic equities.

The Nifty 50 ended the session with a gain of 0.35% at 23,167, while the Sensex closed at 76,500 marking a 0.22% increase from the previous close. Likewise, the Nifty Smallcap 100 index rose by 1.97% and the Nifty Midcap 100 index concluded the day with a gain of 2.

Equity markets are expected to open on a positive note today, with GIFT Nifty trading at 23,310, indicating a marginal gain of about 50 points. Despite the expected early gains, market volatility is likely to persist as foreign portfolio investors continue their selling streak.

Indian benchmark indices Nifty and Sensex ended on Tuesday with modest gains, breaking a four-day losing streak, as a strong rally in banking, metal, and energy stocks lifted sentiment. However, a selloff in IT and FMCG stocks kept investors cautious.

In an attempt to regain control, Bulls pushed the Sensex up by 169.62 points, or 0.22%, to 76,499.63. Likewise, Nifty 50 jumped 90.10 points, or 0.39%, to settle at 23,176.05.