Indices Open Weak On Mixed Global Cues; Wipro Top Gainer

Indian markets opened weak in line with decline on the SGX Nifty. Sensex at 9:17 am was down 0.12% at 45951, while Nifty traded lower by 0.19% at 13440. Broader markets however outperformed the headline indices, with Nifty Midcap 100 up as much as 0.64%.

Indices Open Weak On Mixed Global Cues; Wipro Top Gainer

After passage of the long-awaited stimulus bill in the US, investors sentiment may be lifted from a report that said India is expected to approve Astrazeneca or Oxford's vaccine for emergency use by next week after its manufacturer in India provided additional data which was required by authorities.

Among early top gainers on the Nifty are stocks like Wipro, Infosys, Asian Paints, HCL Tech and Tech Mahindra, while losers in trade include ONGC, JSW Steel, Hindalco, Divis Labs and Reliance.

Wipro will open its buyback offer worth Rs. 9500 crore on December 29. The shares of the IT major in early trade were up over 3 percent.

Bajaj Auto will invest a sum of Rs. 650 crore to set up a new manufacturing unit in Maharashtra. The shares gained up to 0.8% to Rs. 3292.5

Meanwhile, at the time of writing this copy, Asian markets were trading mixed with Japan's Nikkei and Hong Kong's Hang Seng up, while Straits Times was trading with losses.

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