Sensex Rises Over 250 Points, Nifty Trades Above 16,650; IOC, Wipro, Tech Mahindra Top Gainers
New Delhi: The Indian equity indices traded higher in early deals on Thursday led by gains in information technology and energy stocks. Asian shares rose after reassuring comments from the Federal Reserve helped Wall Street rally, though the war in Ukraine sent oil and resource prices spiralling ever higher in a grim omen for global inflation. Oil prices extended their surge, with Brent rising above $116 a barrel.
Back home, as of 9:36 am, the benchmark BSE Sensex climbed 259 points or 0.47 per cent to 55,728; while the broader NSE Nifty moved 73 points or 0.44 per cent higher to 16,679.
Mid-and small-cap shares were positive as Nifty Midcap 100 index jumped 0.70 per cent up and small-cap shares gained 1.15 per cent.
All of the sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Nifty IT and Nifty Oil & Gas were outperforming the index by rising as much as 1.38 per cent and 1.37 per cent, respectively. However, Nifty Auto slipped as much as 0.20 per cent.
On the stock-specific front, Indian Oil Corp was the top Nifty gainer as the stock cracked 3.47 per cent to Rs 116.15. Wipro, Tech Mahindra, HCL Tech and BPCL were also among the gainers.
On BSE, the overall market breadth was strong as 2,311 shares were advancing while 473 were declining.
On the 30-share BSE index, TechM, Wipro, HCL Tech, NTPC, Infosys, Tata Steel and PowerGrid were among the top gainers. Asian Paints, UltraTech Cement, Kotak Mahindra Bank, ICICI Bank and Nestle India were trading in the red.
Sensex had slumped 778 points or 1.38 per cent to close at 55,469 on Wednesday; while Nifty had moved 188 points or 1.12 per cent lower to settle at 16,606.
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