Indian markets traded in the green on Thursday after correcting for two consecutive trading session. In opening bell, Sensex gained by 200 points and reached the day's high of 51,903.96. While Nifty 50 also surged to an intraday high of 15,250.75. IT, metal and oil stocks were top gainers, however, banking stocks were major underperformers.
At around 09.54 am, Sensex and Nifty entered into a volatile session, however, they traded broadly on a subdued level.
Sensex is trading at 51,679.53 down by 24.30 points or 0.05%. Nifty 50 was performing at 15,219.75 up 10.85 points or 0.07%.
Top gainers on Sensex were -
ONGC (+4%) followed by Power Grid and
SBI surging by around 2% each. Infosys, Tech Mahindra, NTPC and Asian Paint advanced around 1% each.
Top underperformers on Sensex were -
HDFC, ICICI Bank, Kotak Bank, M&M, Bajaj Finance and Titan plunging over 1% each.
On BSE, in terms of sectoral indices, Oil & Gas index outperforms by nearly 375 points, while IT and Metal index saw 230 points and 200 points jump. However, Bankex plunged by nearly 200 points, while auto and finance index also dipped marginally.
The domestic equities tracked mixed global cues.
Recent dramatic rise in bond yields weighed on investors appetite for equities globally. Investors are on a wait-and-watch mode to gauge how high yields can climb before spoiling the risk rally, which in return has set up equities for a fall. The treasury yields have reached their highest level in a year to 1.33%.
However, Covid-19 vaccine rollout progress and quick economic activity recovery keep investors at equities bay as some share capital gains were witnessed on Thursday.
The mainland China market which opened after a few days due to Lunar holidays, traded on a higher note. The Shanghai SE Composite Index was up 0.4%, while Taiwan TSEC 50 Index also traded marginally up. However, the Australia ASX All Ordinaries was flat and Mumbai Sensex was in a volatile session.
On the contrary, shares in Hong Kong, South Korea and Japan were under selling pressure. Hang Seng dived over 360 points or 1.2%, while Nikkei 225 shed 100 points. KOSPI index plunged by 1.1%.
S&P 500 futures inched up, while Crude oil advanced after U.S. output was disrupted by a cold blast. The US dollar benchmark held steady against a basket of currencies.
At the states, overnight, Nasdaq Composite and S&P 500 index dipped amid higher yields impact on valuations. Dow Jones Industrial Average closed on a higher note.