10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. 10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. 10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Indian equity benchmarks traded higher in Thursday's early deals. The domestic indices were up today led by gains in financials and metal stocks. The 30-share BSE Sensex rose 79 points or 0.13 per cent to trade at 61,272, while the broader NSE Nifty moved 27 points or 0.15 per cent higher to trade at 18,116. Mid- and small-cap shares were positive as Nifty Midcap crawled 0.20 per cent higher and small-cap was up 0.24 per cent.
However, the climb in domestic indices was capped amid choppy trading across global equities due to the US Federal Reserve rate hike.
Wall Street equities closed lower overnight after the Fed raised rates by quarter of a percentage point. Although, Fed chair Jerome Powell said that the US central bank is closer to the end of the current rate hiking cycle that began in March 2022.
Bach home, 10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty Financial Services and NIfty Metal were outperforming the NSE platform by rising as much as 0.67 per cent and 0.76 per cent, respectively.
Foreign institutional investors (FIIs) remained net buyers for a fifth session in a row, adding equities worth Rs 1,338 crore.
The continued buying by FIIs will impart strength to the market, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the stock-specific front, Bharat Petroleum Corporation was the top Nifty gainer as the stock rose 1.66 per cent to trade at Rs 366.80. Also, SBI Life, Tata Steel, Titan and Adani Enterprises moved up to 1.50 per cent higher.
In contrast, PowerGrid, Tech Mahindra, HCL Technologies, ITC and Maruti slipped up to 0.94 per cent.
The overall market breadth was strong as 2,179 shares were advancing while 1,314 were declining on BSE.
On the 30-share BSE index, Bajaj Finance, Reliance Industries, Tata Consultancy Services (TCS), SBI, Titan, L&T, Tata Steel, Sun Pharma, Bharti Airtel and Bajaj Finserv were among the top gainers.
In addition, Cholamandalam Finance, General Insurance, Bajaj Consumer, Brightcom Group jumped up to 9.17 per cent.
On the flip side, Petronet LNG, Anupam Rasayan, Rail Vikas Nigam Ltd (RVNL), AAVAS Finance and KEC fell up to 3.95 per cent.
Sensex had slipped 161 points, or 0.26 per cent, to close at 61,193.30 on Wednesday, while Nifty had declined 58 points, or 0.32 per cent, to settle at 18,089.85.
Nifty outlook
"The negative divergence in MACD hinted yesterday as well as an evening star pattern points to a corrective move lower. But, favoured view expects this to turn into a bear trap aiming at 18,200. Slippages to not extend beyond 18,010. If below, expect bear grip to tighten, until 17,960-17,885 or 17,708 is achieved," said Anand James, Chief Market Strategist at Geojit Financial Services.