Share Market Opening Bell! Sensex, Nifty open with minor gains; Pharma stocks weak, Power Grid surges most
The Indian markets on Thursday opened with minor gains amid strong global cues. Pharma stocks were top losers on the index at the opening while Shree Cement opens in the green after 2 sessions.
The Indian markets on Thursday opened with minor gains amid strong global cues. Pharma stocks were top losers on the index at the opening while Shree Cement opens in the green after 2 sessions.
The BSE Sensex gained over 121 points or 0.22 per cent higher to 54,647 while Nifty grew by 30 points or 0.18 per cent to 16,312 levels at the market open today.
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In the broader markets category, the mid-cap index surged by around 97 points or 0.36 per cent to 27504 at open on Thursday. Similarly, another important index, Nifty Bank jumped around 78 points or 0.22 per cent to 35885 levels, powering most to the Nifty Index today at the market open.
Of 50 scrips on Nifty50, 26 advanced, 21 declined and three remained unchanged at the market open today. Power Grid continues to gain and become top gainer today at open by rising almost 2 per cent, followed by ITC and Tata Motors both surged over 1 per cent being the Index gainers.
Other stocks such as Shree Cement and BPCL grew around 1 per cent at open today
On the contrary, Pharma stocks such as Divis Lab and Dr Reddy’s declined most in the early morning trade by around 0.6 per cent, followed by Eicher Motors, Asain Paints and HUL each declined around a quarter per cent.
Minutes after the market open, almost all sectoral indices are in the green, except for Nifty Pharma down around 0.6 per cent, while Nifty Metal surged most by around a quarter per cent, followed by banking and financial stocks at the market open on Thursday.
On the global front, US Markets on Wednesday closed mixed as lower than expected inflation growth spurred return of money into financials and cyclical with Dow gaining over 220 points to close at a fresh record high.
While Asian markets on Thursday opened with gains led by the Japanese 'Nikkei' which traded higher by over 125 points in early trade.
Another important trigger to domestic markets was Foreign Institutional Investors (FIIs) bought shares worth Rs 238.14 crore in cash and Rs 206.28 crore in index futures
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