New Delhi: The markets opened firm with significant gains on the back of good cues from Asian markets. Most of the Asian markets were up in the morning except China. IT and pharma stocks emerged as the star performer on Thursday.
At 9:56 hours IST, Sensex was up 150 points at 14,561 and Nifty was up 30 points at 4,279. Major gainers in the opening trade were Reliance, Rel Comm, BHEL, Infosys, Satyam, HDFC, HDFC Bank, Ranbaxy, SBI, HLL, TCS. However, Tisco and Wipro were among significant gainers.
The Bombay Stock Exchange benchmark Sensex recovered by over 155 points in early trade on fresh buying by funds as well as investors in tandem with firming global trends. Stock brokers said firming global stock markets mainly influenced the trading sentiments here, triggering all-round buying.
They said short-covering by speculators today, the last session of May expiry in the Futures and Option (F&O) segment, too positively impacted the trading sentiments. Major supporters to the Sensex were capital goods and banking sector stocks.
Market cues:
- NSE F&O May series expiry today
- FIIs net buy USD 198.7 mn in equity on May 29
- MFs net sell Rs 4.20 crore (Rs 420 million) in equity on May 29
- NSE F&O Open Interest up by Rs 1109 crore (Rs 11.09 billion) at Rs 69,963 crore (Rs 699.63 billion)
F&O cues:
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