Indian equity indices opened Thursday’s trading session on a higher note following mixed global trends. The NSE Nifty 50 opened above 25,500, while the BSE Sensex opened 200 points higher at 83,600.
In line with the overall markets, Bank Nifty surged 34 points to 57,033. The small and midcap stocks also followed suit; the Nifty Midcap 100 opened 174 points or 0.29% higher at 59,840.
“Nifty is likely to trade in the 25,200-25,800 range for some more time till a trigger breaks the range. A positive trigger can come from a possible India-US trade deal to be announced in a few days. The US-Vietnam trade deal indicates the eagerness of the US administration to strike as many trade deals as possible since deals with the EU and Japan appear unlikely soon,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Here are key highlights from the early session-
Top performers leading the charge
Among the top gainers on the Nifty 50 were Zomato, Asian Paints, ONGC, Wipro, and Infosys. The top movers in the Nifty 50 were ICICI Bank, Infosys, HDFC Bank, Mahindra & Mahindra, and Zomato as soon as markets opened.
Stocks in the red
The stocks that remained under pressure included HDFC Life Insurance, Bajaj Finance, Kotak Mahindra Bank, Adani Enterprises, and Bajaj Finserv, which were the laggards in the morning trade.
Global markets mixed
Asia-Pacific markets traded mixed on Thursday morning as investors await details on the US-Vietnam trade agreement. Japan’s benchmark Nikkei 225 slipped 0.15% and the Topix lost 0.21%. The US markets closed Wednesday’s session on a higher note as the US signed a deal with Vietnam.