Nifty, Sensex Trade Higher Tracking Gains In Airtel, Infosys, L&T: Midday Market Update
As of 12:44 p.m., Nifty was 0.74% higher at 22,310.75, and Sensex was up 0.65% at 73,421.32.
Indian benchmark stock indices were trading higher through midday on Thursday as Bharti Airtel Ltd., Infosys Ltd., and Larsen & Toubro Ltd. led gains. Intraday, Nifty rose 0.81% to 22,326.50, and Sensex rose 0.73% to 73,473.05.
As of 12:44 p.m., the NSE Nifty 50 was 162.85 points, or 0.74% higher at 22,310.75, and S&P BSE Sensex was up 477.64 points, or 0.65% at 73,421.32.
"Meanwhile, the dollar paused and bond markets stabilised as investors took a step back to assess the interest rate outlook," said Avdhut Bagkar, technical and derivatives analyst at StoxBox. The index is anticipated to attract bullish strength, he said.
Shares of Bharti Airtel Ltd., Infosys Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., and Tata Consultancy Services Ltd. were positively contributing to changes in the Nifty.
While, Axis Bank Ltd., Apollo Hospitals Enterprises Ltd., ITC Ltd., ICICI Bank Ltd. and Nestle India Ltd. weighed the index.
On NSE, 11 out of 12 sectors advanced, with NSE Nifty Metal emerging as top performer. The NSE Nifty FMCG was the top loser as sharp decline in shares of Nestle India Ltd. weighed the index.
Broader markets outperformed benchmark indices. The S&P BSE Midcap index rose 0.96%, and the S&P BSE Smallcap was 1.28% higher.
On BSE, all 20 sectors advanced with the S&P BSE Telecommunication rising the most among peers. The S&P BSE FMCG was the top loser.
Market breadth was skewed in the favour of buyers. Around 2,579 stocks rose, 1,102 stocks declined, and 126 stocks remained unchanged on BSE.