Sensex off opening highs; PSU Bank, Metal down

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Benchmark indices opened higher aided by positive cues from other Asian equity markets. Today’s gains were led by HDFC twins, Infosys, ICICI Bank, RIL and TCS.

The markets snapped six-day losing streak after the White House alleviated concerns, suggesting US President Donald Trump's import tariff plan might spare select countries from most of the impact.

Telecommunication companies gained after the Union Cabinet on Wednesday approved easing of the spectrum holding limit, based on recommendations by the Telecom Regulatory Authority of India.

Fortis Healthcare gained 3% as the stock went out of F&O ban.

Bhushan Steel rallied 12% and Tata Steel gained 1%. 

At 9:58 AM, the BSE Sensex was trading at 33,139, up 106 points, while the Nifty50 index was trading at 10,179, up 24 points.

The gains were broad-based as the BSE Midcap Index gained 0.52% and the BSE Smallcap Index climbed 0.88%.

Volatility index India VIX slipped 4.69% to 14.9625

ICICI Bank (+2%), Bharti Airtel (+1.9%), Infosys (+1.8%), HDFC (+1. %) and Reliance Ind (+1.3%)were the top gainers on Nifty50.

BPCL (-1.3%), Infratel (-1.3%), Yes Bank (-0.66%), Coal India (-0.41%) and ONGC (-0.41%) were the top losers in today’s trade.

Out of 1,996 stocks traded on the NSE, 1,187 advanced, 387 declined and 422 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trade today, while 58 stocks touched a new 52-week low.

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