Indian markets continued to rise in early trade for the third day on Thursday led by buying interest seen in metal, auto, IT and pharma stocks.
The 30-share benchmark index, BSE Sensex opened with a gain of 223.50 points or 0.45% at 49,885.26, while the broad based NSE Nifty started with a rise of 56.60 points or 0.38%, at 14,875.65.
At 11.11 a.m., the Sensex was trading up 415.65 points or 0.84% at 50,077.41 with 28 components gaining. Meanwhile, the Nifty was trading higher by 130.85 points or 0.88% at 14,949.90 with 46 components gaining.
Housing Development Finance Corporation contributed rise of 64.68 points in the Sensex. It was followed by Tata Motors (49.39 points), Tata Consultancy Services (41.2 points), Infosys (35.76 points) and Larsen & Toubro (29.81 points).
However, Bajaj Auto contributed fall of 2.05 points in the Sensex. It was followed by NTPC (2.2 points), Bharti Airtel (5.66 points), Sun Pharmaceutical Industries (5.76 points) and Maruti Suzuki India (5.99 points).
Biggest gainers in the 30-share index were Tech Mahindra (3.49%), Tata Steel (2.60%), UltraTech Cement (1.98%), Titan (1.91%), Bajaj Finserv (1.81%), Housing Development Finance Corporation (1.66%), and Tata Consultancy Services (1.57%).
On the other hand, Bajaj Auto (0.43%), and Bajaj Finance (0.11%) were the biggest losers in the Sensex pack.Market breadth was positive with 1,909 advances against 711 declines.
Most Asian stocks slipped at the open on Thursday as Nikkei Index declined half percent while Hong Kong Index gained 0.50%. South Korea, Australia and Taiwan Index are trading flat. Dow Future is up 0.1% and SGX Nifty gained nearly 0.5%.
US stocks closed mixed, following the release of minutes from the Federal Reserve's most recent policy meeting indicating broad agreement among policymakers that monetary policy is likely to remain accommodative for some time. Dow Jones was 16 points higher, while the S&P 500 gained 0.2% to record high at 4080. US 10-Year Bond inched up at 1.67%. Strong economic data, including an unexpectedly big increase in March payrolls and job openings, along with the infusion of USD 1.9 trillion in federal fiscal stimulus starting last month, have improved investor sentiment amid COVID-19 vaccinations.
European stocks were little changed and closed just short of record highs on Wednesday, with healthcare shares among top decliners, while optimism over speedy vaccination drives and a weaker pound helped UK equities outperform. FTSE Index gained 1% while DAX and CAC Index declined marginally.