The Indian equity benchmark started positive momentum on Thursday led by buying across the board amid positive global cues. At around 10.30 am, the BSE Sensex opened traded higher at 41221-mark, up by 605 points while the NSE Nifty50 index touched at 12,082.40, up 173 points in trade.
Broader markets, Nifty Small-cap100 and Nifty Midcap100 were up over 1.5 percent each. All the sectoral indices were trading in the green led by Nifty PSU Bank, Nifty Information Technology (IT), Nifty Metal and Nifty Financial Services.
SBI, Tata Steel, HCL Technologies, Adni Ports and Grasim Industries were the Nifty50 top gainers, while Hero MotoCorp and Sun Pharma were the only ones to trade in the red. The share price of SBI rallied over 6 percent as brokerages raised the target price on the stock after Q2 earnings. HPCL stock price advanced over 4 percent after the company's board approved Rs 2,500 crore share buyback at Rs 250 per share. The Company reported a net profit of Rs 2,477.4 crore in Q2 as against Rs 1,052.3 crore, year on year.
Globally, Asian shares surged on Thursday and bonds extended their intense rally as investors wagered the likely prospect of US policy gridlock would greatly favor some industries while putting a restraining hand on government borrowing, as per Reuter's statement.
Indian Cos plans Salary Hikes In 2021 Against 71pc In 2020: Aon India Survey
SBI posts 51.8 pc Jump in Net Profit
Nasdaq stock futures witness volatility as it tries to determine the next president.