Sensex, Nifty Rise Again, As Stocks Surge Higher On Global Cues

Indian shares are up firmly in positive territory Thursday morning, extending recent gains, thanks to positive global cues.

Despite concerns about interest rates, U.S. stocks ended higher on Wednesday, and European markets too ended on a strong note. Asian markets are higher today, setting up the stage for Indian stocks.

Technology stocks are among the top gainers. Realty, power, metal, healthcare and utilities shares are among the other prominent gainers.

The benchmark BSE Sensex, which surged to 61,682.25, is up 369.31 points or 0.6% at 61,644.40. The broader Nifty index of the National Stock Exchange is up 105.40 points or 0.59% at 18,121.25.

On the economic front, data released by the Commerce Ministry on Wednesday showed India’s exports dipped to $32.91 billion in January, from $35.23 billion in the same month last year. Trade deficit stood at $17.75 billion in January.

Tech Mahindra is climbing 5%, hitting a near 3-month high in the process. The stock has been gaining consistently over the past few sessions.

Tata Consultancy Services is up 1.5%, Wipro is gaining 1.2% and HCL Technologies is up nearly 1%. Infosys is advancing 0.6%.

Asian Paints, Reliance Industries, Sun Pharmaceuticals, Kotak Bank, Tata Steel, Titan Industries and ITC are up 0.6 to 1.2%.

ONGC, Apollo Hospitals Enterprises, Adani Enterprises and Adani Ports are gaining 2 to 3.1%. Divi’s Laboratories is up by about 1.5%.

Ramco Systems is up nearly 7%. The company announced that it has signed a digital transformation deal to automate and optimize business operations across the Philippine Airlines Group network.

MTNL is down by about 1.6% after the company reported consolidated loss of Rs 775.5 crore in the third quarter, compared with consolidated loss of 659.2 crore, in the year-ago period.

The market breadth is fairly strong. On BSE, 1,991 stocks are up in positive territory. 1,201 stocks are weak, while 149 stocks are hovering around their previous closing levels.