Indices open in green on strong global cues, NIFTY50 at 25,668.85, SENSEX up 286 points; Asian Paints, IndiGo lead gains

The Indian equity markets opened higher on Thursday, November 6, tracking firm global cues and strong buying in auto, FMCG and IT stocks.

The broader market, however, was seen in red in the early session, with the Nifty Midcap 100 and the Nifty Smallcap 100 losing 0.07% and 0.19%, respectively.

Among sectors, Nifty Auto led the gains, rising 0.85%, followed by Nifty FMCG, up 0.74%, and Nifty IT, advancing 0.54%. On the downside, Nifty Metal (-0.94%) and Nifty Media (-0.62%) were the only laggards.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold shares worth ₹1,067.01 crore, while the domestic institutional investors (DIIs) bought equities worth ₹1,202.90 crore on a net basis.

Globally, Asian stocks rebounded on Thursday, tracking overnight gains on Wall Street, as investors assessed the US Fed’s policy outlook and awaited key tariff rulings.

Japan's Nikkei rose 1.42%, South Korea's KOSPI advanced 1.59%, Hong Kong's Hang Seng jumped 1.72%, and Singapore's Straits Times gained 1.16%. Shanghai Composite was also trading 0.88% higher.

On Wednesday, main indices on Wall Street ended higher following several upbeat economic updates and a steady flow of quarterly reports from US companies.

The S&P 500 rose 0.37%, the Dow Jones advanced 0.48%, and the tech-heavy Nasdaq climbed 0.65%.

As many as 2,752 stocks traded on the NSE during the early session, among which 1,007 advanced, 1,645 declined, and 100 shares remained unchanged.

This indicates that the market's breadth is favourable towards advances.

Meanwhile, 37 stocks hit their one-year highs in the early trade, while 55 stocks touched their 52-week lows.

Further, 43 stocks hit their upper circuits, while 27 hit their lower circuits.

India VIX, the volatility gauge, was trading at 12.53 levels, declining 0.98%.

Asian Paints was the biggest contributor, soaring 4.48%. IndiGo parent InterGlobe Aviation (3.02%), Mahindra & Mahindra (1.97%), Reliance Industries (1.42%) and State Bank of India (1.29%) were the other top gainers.

On the flip side, Hindalco Industries (-5.38%), Grasim Industries (-3.78%), Power Grid (-2.67%), Eternal (-1.67%) and Max Healthcare (-1.26%) were the top losers on the 50-share index.