Sensex Trades Higher On Positive Global Cues

Mumbai: Indian frontline indices opened in green on Thursday following positive global cues. At 9:50 am, Sensex was up 375 points, or 0.50 per cent, at 74,724. Nifty was up 105 points or 0.47 per cent, at 22,725.

Overall market trends remain positive. Out of the total stocks, 1949 are trading in green and 209 in red. Midcap and smallcap stocks are trading with positive bias. The Nifty midcap 100 index is up 1,022 points or 1.99 per cent, at 52,285 and the Nifty smallcap 100 index is up 466 points or 2.86 per cent, at 16,774.

India VIX (India Volatility Index) is down 5.88 per cent, at 17.78 points. Twenty-three out of 30 Sensex stocks are trading in the green. NTPC, SBI, Power Grid, Tech Mahindra, Tata Steel, HCL Tech and Infosys are the top gainers. However, HUL, Nestle, Sun Pharma, Asian Paints, and Kotak Mahindra Bank are the top losers.

In Asia, Tokyo, Hong Kong, Seoul, and Jakarta are trading with gains. However, there are declines in Bangkok and Shanghai. American markets closed with gains on Wednesday. Crude oil benchmark Brent crude remains at $78 per barrel and WTI crude at $74 per barrel.

“As the market comes back to normalcy after the abnormal volatility of the last three days, the global construct has turned favourable with the rising possibility of rate cuts by the Fed. Clear signs of weakening labour market in the US led to the sharp decline in the US bond yield to 4.29 per cent,” market experts said.