Indices open positive, SENSEX gains 98 points, NIFTY50 near 25,000; Eternal, Adani Ports top gainers

The Indian stock market opened in green for the sixth consecutive session on Thursday, September 11, tracking global cues.

The broader market also opened with gains, with both Nifty Midcap 100 and Nifty Smallcap 100 rising 0.31% and 0.49%, respectively.

Among sectors, Nifty IT fell 0.48% in the early session, while all the other gauges were trading positive. Nifty Media (0.73%), Nifty Oil and Gas (0.72%) and Nifty Pharma (0.69%) were the top gainers.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹115.69 crore, while the domestic institutional investors (DIIs) bought equities worth ₹5,004.29 crore on a net basis.

Globally, stocks in Asia were trading mixed on Thursday as investors were nervous ahead of US consumer inflation data. Japan’s Nikkei index, however, touched new record highs.

Japan's Nikkei was up 1.23%, South Korea's KOSPI rose 0.49%, and the Shanghai Composite also gained 1.12%. Hong Kong's Hang Seng was trading lower by 0.35%.

On Wall Street, the S&P 500 and Nasdaq settled at record highs on Wednesday, backed by a strong rally in Oracle. The S&P 500 rose 0.30% to end at its second straight record closing high of 6,532.04.

The Nasdaq inched up by 0.03% to 21,886.06 points—its third consecutive record-high close. The Dow Jones Industrial Average, however, slipped 0.48% to 45,490.92.

Eternal was the most contributing stock, rising 2.03%, followed by Adani Ports (1.63%), NTPC (1.26%), Sun Pharma (1.04%) and Bharat Electronics (0.90%).

On the other hand, Dr Reddy’s (-1.36%), Infosys (-1.02%), SBI Life Insurance (-1%), Tech Mahindra (-0.94%), and Wipro (-0.88%) were among the top losers on the 50-share index.

As many as 2,604 stocks traded on the NSE during the early session, among which 1,764 advanced, 751 declined, and 89 shares remained unchanged.

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

Meanwhile, 34 stocks hit their one-year highs in the early trade, while 12 stocks touched their 52-week lows.

Further, 43 stocks hit their upper circuits, while 24 hit their lower circuits.

India VIX, the volatility gauge, was trading at 10.61 levels, up 0.66%.