The benchmark Indian equities on Thursday traded higher in the opening of trading amid positive indicators from global markets. Asian stocks edged higher, tracking overnight gains on Wall Street. U.S. stocks rose after notes from an early May meeting of the U.S. Federal Reserve indicated it was highly likely that the central bank would approve two more half -percentage point rate hikes in the next few months.
The trend on Nifty Futures on the Singapore Exchange (SGX Nifty) indicates a higher start for the domestic index.
Back home, 30 shares of BSE Sensex rose 304 points or 0.57 percent to 54,053 in early trade, while the broader NSE Nifty rose 85 points or 0.53 percent to trade at 16,111.
Medium and small -cap stocks traded on strong notes as the Nifty Midcap 100 rose 0.43 percent and small -cap stocks rose 0.30 percent.
12 of the 15 sector gauges – compiled by the National Stock Exchange – are traded in green. The Nifty Bank, Nifty Financial Services and Nifty IT sub-indices outperformed the NSE platform by increasing by 0.95 per cent, 0.90 per cent and 0.87, respectively.
In terms of niche stocks, HDFC was the most profitable as the stock jumped 1.35 per cent to Rs 2,267.70. ICICI Bank, Wipro, Nestle India and Hindalco are also among the beneficiaries.
On the 30 -stock BSE index, HDFC twins (HDFC and HDFC Bank), Wipro, Tech Mahindra, TCS, ICICI Bank, Nestle India and Sun Pharma are among the most profitable.
In contrast, Asian Paints, NTPC, Hindustan Unilever, Maruti, ITC and M&M traded in the red.
The Sensex was down 303 points or 0.56 percent to close at 53,749 on Wednesday, while the Nifty was down 99 points or 0.62 percent to 16,026.