Benchmark Indian equity indices, BSE Sensex and Nifty 50, opened with modest gains on Thursday, following strength in the US markets.
Benchmark Indian equity indices, BSE Sensex and Nifty 50, opened with modest gains on Thursday, following strength in the US markets.
At the opening bell, the BSE Sensex was up by 129.52 points, or 0.16%, at 81,085.85, while the Nifty 50 stood at 24,497, gaining 29.70 points, or 0.12%.
At the start of trading, 18 out of the 30 Sensex stocks were in the green. Leading the gains was Infosys (up 1.08%), followed by UltraTech Cement, TCS, Tech Mahindra, and Reliance Industries. On the downside, NTPC saw the biggest loss (down 0.72%), followed by JSW Steel, HDFC Bank, Maruti Suzuki India, and Power Grid Corporation.
On the Nifty 50, all 30 stocks were higher, with Apollo Hospital Enterprises posting the biggest gain (up 1.22%), followed by Infosys, UltraTech Cement, Tech Mahindra, and Bharti Airtel. NTPC was the biggest laggard (down 0.75%), followed by SBI Life, JSW Steel, HDFC Bank, and Bajaj Auto.
Sector-wise, the IT index was the top performer, rising 0.74%, followed by Consumer Durables and FMCG. The financial sector indices also recorded marginal gains, along with OMCs, Auto, and Healthcare. In contrast, the Media index lost 0.34%, followed by the Pharma and Metal indices.
In the broader markets, the Nifty Smallcap 100 gained 0.44%, while the Nifty Midcap 100 was up by 0.36%.
India’s volatility index, the India VIX, rose by 1.07%.
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Global Cues
In global markets, Wall Street’s major indices surged to record highs, driven by tech stocks and positive remarks from Federal Reserve officials. The S&P 500 climbed 0.6% to 6,086, the Nasdaq Composite jumped 1.3% to 19,735, and the Dow Jones Industrial Average rose 0.7% to 45,014.
MSCI’s global stock index increased by 0.47%.
US Treasury yields fell after Fed Chair Jerome Powell stated that the strength of the US economy would allow the central bank to “be a little more cautious” with interest rate policy.
In Asia, MSCI’s broadest index of stocks outside Japan slipped 0.15%, with most Asian markets, except South Korea, closing higher.
In Europe, stocks gained about 0.4%, while the euro traded near a two-year low ahead of the no-confidence vote in France.