Home Business Sensex Gains Over 300 pts At Open, Nifty Above 17,450; Key Points

Sensex Gains Over 300 pts At Open, Nifty Above 17,450; Key Points

Sensex Gains Over 300 pts At Open, Nifty Above 17,450; Key Points


Sensex Today: Key benchmark indices opened in the green on Thursday amid supportive global cues ahead of the Reserve Bank of India’s (RBI) policy outcome. At 09:15 IST, the Sensex was up 334.22 points or 0.57 per cent at 58684.75, and the Nifty was up 91.60 points or 0.53 per cent at 17479.80.

Hindalco Industries, Infosys, Shree Cements, UltraTech Cement and IndusInd Bank were among major gainers on the Nifty, while losers were Tata Consumer Products, Britannia Industries, SBI Life Insurance, ONGC and Divis Labs.

The strength spilled across broader markets as Nifty Midcap 100 and Nifty Smallcap 100 climbed up to 0.8 per cent.

Sector-wise, Nifty IT and Nifty Media led the upside. Nifty Realty, however, was the sore sectoral loser.

Among individual stocks, shares of Adani Power hit 52-week high at Rs 352 per share after the company reported a 16-fold jump in consolidated net profit to Rs 4,780 crore in Q1FY23.

Besides, shares of Adani Total Gas hit 52-week high at Rs 3,335.05 per share ahead of their Q1FY23 results.

Dr. V K Vijayakumar, chief investment strategist at Geojit Financial Services, said: “In the mother market of the US, markets are climbing many walls of worries including the US-China skirmishes arising from Nancy Pelosi’s visit to Taiwan. Other markets are taking cues from the strong trend in the US market. In India, the FPIs turning buyers has changed the sentiments in favour of the bulls. The market momentum is so strong that it is overpowering negatives like higher valuations and rising trade deficit. If FPI buying sustains, the market may continue to remain resilient, but investors should exercise some caution. It makes sense to stick with high-quality growth stocks. The strength in Nasdaq indicates that IT will continue to maintain the current uptrend.”

Gold Price Today

Gold prices were steady on Thursday, supported by a pullback in the U.S. Treasury yields and as cautious investors awaited a key U.S. non-farm payrolls report due this week that could offer more cues on the Federal Reserve’s rate-hike stance.

Spot gold held its ground at $1,767.39 per ounce, as of 0239 GMT. U.S. gold futures rose 0.4 per cent to $1,783.90.


Indian rupee opened marginally lower at 79.21 per dollar on Thursday against previous close of 79.16.

Global Cues

Asian stocks rose on Thursday, taking cues from a strong rally on Wall Street after robust economic data and upbeat corporate guidance boosted investor appetite.

Tokyo stocks opened higher Thursday following gains on Wall Street, with investors eyeing corporate earnings. The benchmark Nikkei 225 index climbed 0.69 percent, or 191.39 points, to 27,933.29 at the open, while the broader Topix index rose 0.34 percent, or 6.50 points, to 1,937.27.

US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite.

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