Indian equity indices opened marginally higher for the seventh straight session on Wednesday, with the benchmark Nifty 50 hitting fresh all-time highs, led by banking, financial and auto stocks.

The BSE Sensex was trading 68 points or 0.09% higher at 73,125. Nifty50 was trading at 22,215, up 18 points or 0.05% at around 9.20 am.

From the Sensex stocks, JSW Steel, M&M, Tata Steel, Bharti Airtel, and ICICI Bank opened with gains, while Infosys, TCS, Power Grid, Nestle India and Tech Mahindra opened with cuts.

Shares of Zee Entertainment Enterprises plunged over 13% in early trade after market regulator SEBI found irregularity of more than $240 million in the accounts of the company.

Also, Zee clarified that the talk of renewed talks with Sony to revive the scrapped merger deal is incorrect and that the company is not involved in any negotiations.

Hindalco shares surged nearly 5% after the company’s U.S. subsidiary Novelis said it filed for an initial public offering with the U.S. Securities and Exchange Commission.On the sectoral front, Nifty IT fell 0.5% in early trade, ahead of the minutes of the US central bank’s last meeting for clues on the policy outlook. Nifty Auto, Metal, PSU Bank, and Realty traded higher.Experts View
“Nifty can find support at 22,100 followed by 22,050 and 21,950. On the higher side, 22,250 can be an immediate resistance, followed by 22,300 and 22,400,” said Deven Mehata, Research Analyst at Choice Broking.

Deepak Jasani, Head of Retail Research at HDFC Securities, said, “Nifty closed on Feb 20 with a long bull candle after three consecutive doji formation. Nifty could now remain in the 22280-22053 band in the near term with a minor bullish bias.”

Global Markets
Asian stocks eased on Wednesday as diminishing expectations of early interest rate cuts from the Federal Reserve sapped risk appetite, with investors looking to the minutes of the U.S. central bank’s last meeting for clues on the policy outlook.

China stocks were mixed in early trading, while Hong Kong’s Hang Seng Index was 1% higher.

Overnight, U.S. stocks ended lower, with the Nasdaq showing the largest declines as chipmaker Nvidia stumbled ahead of its highly awaited earnings report later on Wednesday.

DII Net Buyers
Despite the hot U.S. inflation prints last week prompting foreign selling, domestic institutional investors (DII) have emerged as net buyers in 12 of the 14 sessions so far in February. They have added stocks worth Rs 19,337 crore, including Rs 1,491 crore on Tuesday, according to provisional stock exchange data.


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