Indices open firm on positive trend in global markets

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Benchmark indices opened in the green on the back of strong global cues. The markets witnessed gap-up opening as indicated by SGX Nifty.

Domestic share indices started the session on a firm note with broad based gains, led by consumption-themed stocks, mirroring the positive trend seen across most global markets.

Most global markets have turned positive following US data indicating abating inflationary pressure, which lowered the chances of an interest rate hike in the near future.

All sectoral indices opened in green with Nifty FMCG, Nifty Realty and Nifty Auto indices leading the charge.

Shares of ITC gained nearly 3% to test the day's high of Rs267.05 after the GST Council did not increase cess on cigarettes at its meeting on Saturday.

Shares of ARSS Infrastructure Projects extended gains and rose 5% to a high of Rs44.25 as a joint venture of the company has secured an order worth Rs15,440cr from the East Coast Railway.

Shares of Andhra Bank extended losses and slumped nearly 14% to a 14-year low of Rs33.20 after the Enforcement Directorate filed a prosecution complaint against former director Anup Prakash Garg in a Rs5,000cr bank fraud case involving Sterling Biotech Ltd.

Waterbase shares were down 4% and Apex Frozen shares were down 1%, as US hiked anti-dumping duty on shrimps.

Only 3 Nifty stocks are in the red; Hindalco is the top loser after CLSA downgraded the stock.

At 9:45 AM, the BSE Sensex was trading at 33,567, up 260 points, while the Nifty50 index was trading at 10,308, up 81points.

The gains were broad-based as the BSE Midcap Index gained 0.48% and the BSE Smallcap Index climbed 0.47%.

Volatility index India VIX in the red at 14.5175     

At the opening bell, Infratel (+1.77%), ITC (+1.62%), HCL Tech (+1.55%), Indiabulls Housing Fin (+1.48%), and Indusind Bank (+1.33%) were the top gainers on Nifty50. While, Hindalco (-0.98%), SBI (-0.30%) and Asian Paints (-0.19%) were the top losers in today’s trade.

Out of 2,017 stocks traded on the NSE, 1,105 advanced, 475 declined and 437 remained unchanged today.

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

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