The Indian equity benchmark indices opened higher on Thursday, led by a rally in banking and auto stocks amid a positive trend in the global markets.
At 9:15 am, the Sensex opened 0.85 percent, or 322.96 points, higher at 38,516.88, while the Nifty50 index opened at 11,363.30, up 85.3 points.
Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 indices up 1.69 percent and 1.21 percent, respectively.
Barring Nifty Pharma, all the sectoral indices traded in the green led by Nifty PSU Bank, Nifty Auto, Nifty IT and Nifty Metal.
IndusInd Bank, Tata Motors, SBI, Reliance Industries and Bajaj Finance were the Nifty50 top gainers, while UPL, Bajaj Auto, NTPC, Bharti Infratel and Dr Reddy’s Laboratories were the top losers.
Globally, Asia’s stock markets snapped their longest losing streak since February on Thursday and rose following a bounce on Wall Street, though subdued trade in currency, commodity and bond markets suggested investors remain cautious about the outlook, Reuters reported.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained half a percent, lifting away from a one-month low made on Wednesday.
Catch all the latest updates from the stock market here.