Market update: Strong opening of the market, Nifty crosses 17,400, auto sector in focus

Indian stock markets have made a strong start on Wednesday. Sensex is seen around 58,247.09 with a gain of about 70 points. At the same time, Nifty is trading above 17,400 with a gain of 23 points. The market remains bullish in the auto sector.

Trading is being done in 2,436 shares on BSE. In which 1,728 shares are seen with an increase and 610 shares are seen trading in the red mark. With this, the total market cap of companies listed on BSE has crossed Rs 258 lakh crore. Earlier on Tuesday, the Sensex climbed 69 points to 58,247 and the Nifty climbed 24 points to close at 17,380.

Opinion of Brokerage on L&T
JEFFERIES has a Buy rating on L&T and has a target of Rs 2,105 for the stock. He says that emphasis on capex in India is possible in the next 3-5 years. The company’s focus is on new technology for the green portfolio. The company’s strategic plan for the next 3-6 months will prove to be an important trigger.
CLSA has given Buy rating on L&T and has a target of Rs 1,950 for the stock. He says that the company is bullish about the capex cycle. Apart from this, by June, there can be a bidding of $ 12200 million in the pipeline. On the other hand, margins are expected to remain intact despite costly raw materials.

US stock market
Earlier, the US stock market closed in the red mark. The Dow Jones closed at 34,577 with a weakness of 0.84%. The Nasdaq fell 0.45% to 15,037 and the S&P 500 lost 0.57% to 4,443.

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