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Opening Bell: Sensex, Nifty open higher amid mixed global cues; Vodafone Idea, Airtel in focus

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The Sensex opened 0.30 percent or 175 points higher at 58,839. Nifty50 index opened higher at 17,550 - up 46 points or 0.27 percent. The broader market indices were trading higher.

Opening Bell: Sensex, Nifty open higher amid mixed global cues; Vodafone Idea, Airtel in focus
The Indian equity benchmark indices opened slightly higher following choppy trading in global markets. At 9:15 am, the Sensex opened 0.30 percent or 175 points higher at 58,839. Nifty50 index opened higher at 17,550 - up 46 points or 0.27 percent. The broader market indices were trading higher.
Bluechips leading the gains on the Nifty50 index were ONGC, SBI Life, Bharti Airtel, HDFC Life, and IOC. Each scrip gained over 1-3 percent. Leading the losses were Bajaj Finserv, Infosys, Tech Mahindra, Hindalco, and Asian Paints.
Among sectors, Nifty Bank, Auto, Financial Services, FMCG, IT, Media, Pharma, and Realty indices were under were in the green. Whereas indices like Metal and Healthcare index were under selling pressure.
Globally, Asian shares were jittery as trading was buffeted by a step-up in US Treasury yields as well as volatile oil prices in the face of price-cooling moves by the United States and other nations.
MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.24 percent. Japan's benchmark Nikkei stock price index fell 1.13 percent, as it returned from holiday and caught up with global falls the day before.
Oil steadied a day after rising 3 percent to a one-week high, after the US said it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to try and cool prices after repeated calls for more crude failed to sway OPEC+ producers.
Brent crude futures reversed early losses to rise 0.15 percent to $82.43 a barrel and US crude futures rose 0.33 percent to $78.76 a barrel.
Overnight, yields on 10-year US Treasury notes rose more than 5 basis points to as high as 1.684 percent. Yields on a 30-year Treasury bond gained 6 basis points. Two-year US Treasury yields slipped having touched their highest level since March 2020 Monday.
Investors will be scrutinising the minutes of the US Federal Reserve policy committee's November meeting to be published later in the global day for signs that the pace of tapering could accelerate.
Non-interest bearing gold which had reacted poorly to the rise in Treasury yields recovered a little. The spot price was last at $1,794 up 0.2 percent but still close to Tuesday's two-week low.
Major currencies are largely trading based on market expectations of central banks' interest rate normalisation schedules.
(With inputs from Reuters)
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