Sensex up 400 pts, Nifty around 23,350; Trent, Nestle, Kotak Bank top gainers

The Nifty50 and the Sensex were trading on a mixed note as global equities decline after the US launched self-defence strikes at Iran.

As of 10:42 AM, the Nifty50 rose 96.10 points or 0.41 per cent to 23,338.20, and the Sensex was trading 380.76 points or 0.52 per cent at 74,299.52.

Hindustan Unilever, Nestle India, and Tata Consumer Products were the top gainers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap indices were trading 0.23 per cent and 0.36 per cent lower, respectively.

Sector-wise, the Nifty FMCG rose 1 per cent to lead gains among peers. The Nifty IT, the Nifty Private Bank, and the Nifty Oil & Gas also outperformed. The Nifty Metal and the Nifty Auto declined the most.

The US launched the self-defence strikes at Iran following the downing of its army’s Apache helicopter, which patrolled over the Strait of Hormuz. Iran warned that it will respond to Washington’s military action.

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Utkal Speciality’s initial public offer will open for subscription on Wednesday. The company is seeking to raise ₹34.54 crore from the primary market.