Equity benchmark indices opened higher led by gains in ONGC, Dr. Reddy's Labs and Asian Paints. However, Tata Motors, Bajaj Auto, and ICICI Bank came under selling pressure in opening trade.
Buoyed by a positive trend across most sectors and continued rally in metal stocks, domestic share indices started the session on a positive note.
At 10:58 AM, the BSE Sensex was trading at 33,850, up 56 points, while the Nifty50 was ruling at 10,455, up 11 points.
Metal stocks continued to gain on the back of rising global commodity prices. The Nifty Metal Index rose 0.5% in early trade, led by over 1% gains in shares of Vedanta and Welspun Corp.
Shares of Tata Motors, which fell 1%, were the worst hit on Nifty50 as the company reported a 9.4% on-year fall in Jaguar Land Rover sales in the US to 11,394 units for December.
Shares of SJVN soared over 15% to a lifetime high after the company said its board will meet on Monday to consider a proposal to buy back its fully-paid up equity shares.
Barring the Nifty Auto Index, which fell 0.2% all other sectoral indices were 0.1-0.6% higher in early trade.
The BSE Mid-cap and BSE Small-cap indices were up 0.60% and 0.41%, respectively.
Volatility index India VIX rose 0.99%.
Asian Paints (+1.5%), ONGC (+1.5%), UPL (+1.3%), Dr. Reddy’s (+1.2%) and Coal India (+1%) were the top gainers on Nifty50.
Tata Motors (-1.4%), HCL Tech (-1.06%), ICICI Bank (-0.86%), Yes Bank (-0.55%) and Sun Pharma (-0.41%) were the top losers in today’s trade.
Out of 1,994 stocks traded on the NSE, 1,140 advanced, 435 declined and 419 remained unchanged today.
A total of 107 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.
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