Benchmark stock market indices opened higher on Thursday as global cues improved, following a drop in US inflation that raised the possibility of a pause in rate tightening by the Federal Reserve.
The S&P BSE Sensex was up 0.17 per cent at 62,057.73 at around 9:15 am, while the NSE Nifty 50 inched 0.14 per cent higher to trade at 18,339.10. Broader markets were also trading in positive territory in the wake of positive global sentiments.
Some of the top sectoral indices were Nifty Bank, Nifty Financial Services, Nifty IT and Nifty Oil and Gas. Nifty Pharma was down almost 1 per cent.
Benchmark stock market: The top gainers on the Nifty 50 were Adani Enterprises, Adani Ports and Special Economic Zone, NTPC, HDFC Life and Tech Mahindra.
Adani Enterprises and Adani Ports were the top two gainers on the index, following a report that indicated that the conglomerate’s flagship firm is considering a stock sale.
On the other hand, Dr Reddy’s Laboratories was the biggest drag on the index, losing over 5 per cent in early trade. L&T also lost nearly 5 per cent, while Hindalco was down over 3 per cent. Bharti Airtel and ITC also lost nearly 1 per cent each. The mood, however, remains fairly positive in the wake of strong Q4 results, improvement in US consumer inflation prices, and strong foreign buying in domestic equities.
