Nifty above 10,500 mark; ITC, HDFC stock lead

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Domestic benchmark indices opened higher today taking cues from the US and other Asian equities and led by gains in infrastructure, metal and pharmaceutical companies.

At 11:06 AM, the BSE Sensex was trading at 33,998, up 150 points, while the Nifty50 Index was ruling at 10,516, up 38 points.

The Nifty Metal Index rose 0.6%, tracking higher global commodity prices. Copper prices, often used as an indicator of global economic growth, held onto gains to trade near a four-year high following strong import numbers from China earlier this week.

The Nifty Pharma Index, up 0.6%, continued to gain for the second consecutive session led by gains in shares of Lupin, Dr. Reddy's Laboratories and Sun Pharmaceuticals.

Shares of Reliance Communications rose 21% as the company plans to sell its wireless infrastructure assets, including spectrum, tower, fibre, and media convergence nodes, to Mukesh Ambani-led Reliance Jio Infocomm. 

Shares of Jaiprakash Power Ventures rose 13% on reports Canadian asset manager Brookfield and the Kotak Mahindra group have jointly bid for 2,200 MW of power assets belonging to the company.

The BSE Midcap and BSE Smallcap indices were up 0.73% and 0.60%, respectively.

Volatility index India VIX rose0.89%.

Infratel (+1.7%), Asian Paints (-1.5%), UltraTech (+1.2%), Axis Bank (+1.1%) and Lupin (+1%) were the top gainers on Nifty50.

Wipro (-1.4%), Hindalco (-1%), M&M (-0.59%), ICICI Bank (-0.44%) and GAIL (-0.37%) were the top losers in today’s trade.

Out of 1,994 stocks traded on the NSE, 1,186 advanced, 402 declined and 406 remained unchanged today.

A total of 66 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

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