New Delhi: Stock markets on Thursday opened in green amidst positive Asian cues and healthy buying in IT, pharma and banking stocks.
Recovering from losses for sixth straight day, Market benchmark BSE Sensex was trading 271.19 points or 0.82 percent up at 33,304.28 at 9.31 am. The broad-based NSE Nifty went up by 80.65 points or 0.79 percent to 10.234.85.
All the sectoral indices, led by realty, teck, IT, consumer durables and metal, were trading in the green with gains of up to 1.32 percent.
Major gainers that supported the recovery were ICICI Bank, HDFC Ltd, Bharti Airtel, Infosys, Tata Steel, RIL, Dr Reddy’s, Axis Bank, ITC, Sun Pharma, Adani Ports, HUL, SBI, L&T and Maruti Suzuki, rising up to 2.11 percent.
The rupee, meanwhile, was trading lower by 2 paise at 64.91 against the dollar in opening trade as the American unit strengthened overseas amid foreign fund outflows.
Asian shares found relief on Thursday as fears about a global trade war amid U.S. President Donald Trump`s push to introduce protectionist tariffs were tempered by signs the move could include carve-outs for key partners.
MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.9 percent. Hong Kong`s Hang Seng led the region with rise of 1.2 percent. In Japan, the Nikkei gained 0.8 percent.
On Wall Street, the S&P 500 ended down just 0.05 percent at 2,726.8 after an initial loss of almost one percent, with tech shares being a major bright spot.