NIFTY50 and SENSEX open in green; Tech Mahindra, Infosys, TCS among top gainers

Indian benchmark indices opened in green on Thursday amid positive global market cues. The US markets closed in green for the second consecutive session amid optimism around NVIDIA’s quarterly earnings report. The company posted a record revenue of $68 billion and net revenue of $43 billion, bolstering investor confidence and justifying the valuations. Taking cues from the overnight gains in the US markets, the Asian markets too rejoiced the gains in tech stocks and hit record high levels.

NIFTY50 opened 73 points higher on Thursday morning at 25,556 and SENSEX jumped 142 points higher at 82,418 apiece. On the other hand, broader indices traded largely flat as the NIFTY midcap 100 jumped 50 points and the small cap 100 index remained largely unchanged on Thursday morning.

Among the sectoral indices, NIFTY PSU Bank (+1.3%) and NIFTY IT (+1%) were the top sectoral gainers and NIFTY Realty (-0.7%) and NIFTY FMCG (-0.19%) were the top two sectoral losers for Thursday. At the broad level, the market breadth traded in favor of advances as 1,615 stocks traded in green and 882 in red.

There were 27 stocks advancing and 23 declining on Thursday morning with Tech Mahindra, Shriram Finance, Infosys, TCS and SBI Life Insurance as the top five gainers, with gains of up to 1.1%. While Indigo, Axis Bank, ICICI bank, Adani Enterprises and Ultratech Cement were the top five losers, losing up to 0.5%.

On the SENSEX, 16 stocks advanced and 14 trailed on Thursday morning, with IT stocks performing as the top gainers and Tata Steel, ICICI Bank, Indigo, Hindustan Unilever as top losers.

RVNL share price advanced nearly 1% after the company received Letter of Acceptance (LOA) from National Mineral Development Corporation (NMDC) for Development of Township in Kirandul, Chhattisgarh. The project cost is 371.69 crore (Incl. all taxes). The said order is to be executed in 21 months.