India's benchmark stock indices hit fresh record high after opening lower on Thursday, helped by gains in realty and energy stocks, while IT and FMCG stocks remained under pressure.
Sensex rose 0.35% to scale new high at 65,677.96 points, whereas Nifty 50 jumped 0.35% to hit record high at 19,466.75 points. Reliance Industries Ltd. and Larsen & Toubro Ltd. led the advances on the indices, whereas ITC Ltd. and Infosys Ltd. dragged.
Asian stocks fell on Thursday, with Hong Kong leading the loss in a broad, risk-off move across global markets. The Hang Seng tumbled 3.2%, while benchmarks in Japan and Australia fell more than 1%. A gauge representing Chinese firms in Hong Kong also dropped.
U.S. equity futures fell, compounding the S&P 500's loss on Wednesday. Contracts for the region-wide Euro Stoxx 50 also retreated, echoing the sour mood. In emerging markets, the central bank of Malaysia will hand down interest rate decisions, after Sri Lanka cut for the second meeting.
As of 12:20 p.m., the S&P BSE Sensex rose 200 points, or 0.31%, to 65,645.74, while the NSE Nifty 50 gained 59 points, or 0.30%, to 19,457.
Bharti Airtel Ltd., HDFC Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd. and Reliance Industries Ltd. positively contributed to changes in the Nifty 50.
While, Bajaj Finance Ltd., ITC Ltd., Infosys Ltd., Maruti Suzuki Ltd. and Tata Consultancy Services Ltd. weighed on the index.
The broader market indices outperformed their larger peers, with the S&P BSE MidCap rising 0.56% and the S&P BSE SmallCap gaining 0.66% by midday session on Thursday.
Fifteen out of the 20 sectors compiled by BSE Ltd. advanced, with S&P BSE Realty gaining the most. Five sectors declined.
The market breadth was skewed in favour of the buyers. About 2,025 stocks rose, 1303 declined, and 159 remained unchanged on the BSE.
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