The Indian equity benchmarks opened higher on Thursday after two consecutive sessions of gains, tracking a general rise in global stocks as diplomatic talks between Russia and Ukraine boosted sentiment, although analysts cautioned that the rally could be susceptible to a sharp reversal given the remaining risks. Investors have also shifted their focus to the results of the Uttar Pradesh, Punjab, Uttarakhand, Goa, and Manipur assembly elections.
As of 11:30 a.m., the benchmark BSE Sensex had risen by 1,254 points, or 2.30 percent, to 55,901, while the broader NSE Nifty had increased by 361 points, or 2.21 percent, to 16,707.
Mid- and small-cap stocks were in the green, with the Nifty Midcap 100 index rising 1.69 percent and small-cap stocks rising 2.03 percent.
The National Stock Exchange's 15 sector gauges were all trading in the green. Nifty Bank, Nifty Auto, and Nifty Auto all outperformed the index, rising up to 3.12 percent and 3.32 percent, respectively.
On a stock-by-stock basis, Tata Motors was the top gainer on the Nifty, surging 6.23 per cent to 431.20. Additionally, Axis Bank, Grasim Industries, Maruti, and Asian Paints saw gains.
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