The stock markets opened with minor gains tracking gains in index majors Infosys, TCS and HDFC Bank amid heavy foreign fund inflow. The benchmark indices were up marginally at the opening bell. Sensex was up 208.49 points or 0.40 percent at 52,514.60. The Nifty50 was up 50.30 points or 0.32 percent at 15,737.30.
TCS was the top gainer in the Sensex pack, rising over 1 percent, followed by Tata Steel, L&T, Infosys, UltraTech Cement, ICICI Bank, SBI and Axis Bank.
On the other hand, Titan, NTPC, Bajaj Auto and Reliance Industries were among the laggards.
Majority of the Nifty sectoral indices traded in the green, led by Nifty IT index, up 0.9 per cent.
In the previous session, Sensex index ended 282.63 points or 0.54 percent lower at 52,306.08, while Nifty declined 85.80 points or 0.54 percent to 15,686.95.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 3,156.53 crore on Wednesday, as per provisional exchange data.
Reliance AGM today
Reliance Industries will hold its first virtual annual general meeting of shareholders on July 15 as public gatherings are not possible in view of the coronavirus pandemic.
In a regulatory filing, Reliance — the country's most valuable company— said "the 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means."
Mukesh Ambani's Reliance Industries will hold its 44th annual general meeting today. The oil-to-telecom conglomerate had an eventful 2020-21 with international investors lining up to get a stake in Ambani's retail and digital units. Over the years, RIL's AGM has seen the company announce key decisions.
Financial results to be announced today
Oil and Natural Gas Corporation, Ashok Leyland, Allied Computers International, Bodal Chemicals, CL Educate, Deep Industries, Everest Kanto Cylinder, Essar Shippnig, Future Supply Chain Solutions, Mishra Dhatu Nigam, Mudra Financial Services, PTC India, South India Paper Mills, Sundaram Muti Pap, Take Solutions, Thangamayil Jewellery, and West Coast Paper Mills.
Two stocks--Vodafone Idea, and Sun Network are under teh F&O ban for June 24.
Data firm IHS Markit said on Wednesday its flash US manufacturing PMI rose to a reading of 62.6 this month. This was the highest since the survey was expanded to cover all manufacturing industries in Ocotber 2009 and following a final reading of 62.1 in May.
Asian markets struggle
Asian markets struggled for direction on Thursday morning trade after the S&P 500 on Wall Street snapped its two-day winning streak overnight. Nikkei 225 hovered above the flatline while the Topix index slipped 0.11 percent. South Korea's Kospit gained 0.35 percent.
Five years after liquor king Vijay Mallya flew to the United Kingdom and approximately seven years after Rs 9,000 crore of loans given to his grounded Kingfisher Airlines was tagged NPA (non performing asset), banks have finally managed to make some meaningful recovery from the elusive baron. That's a major victory for the SBI-led bank consortious against a powerful corporate promoter
Fuel prices hiked
Petrol and diesel rates were hiked again on Thursday, taking fuel prices across the country to a new record high. Petrol price was hiked by 28 paise per litre and diesel by 7 paise, according to a price notification of state-owned fuel retailers.
In Delhi, petrol hit an all-time high of Rs 97.76 a litre, while diesel is now priced at Rs 88.30 per litre. In Mumbai, where petrol price crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 103.89 per litre on Thursday. Diesel price also increased in the city by 28 paisa per litre to reach Rs 95.79 a litre, the highest among metros.
The price of petrol and diesel in Chennai was Rs 98.88 and Rs 92.89 per litre respectively and Rs 97.63 and Rs 91.15 per litre in Kolkata.
The hike on Thurday was the 29th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal. In 29 hikes, the price of petrol has risen by Rs 7.36 per litre and diesel by Rs 7.57 a litre.
International oil benchmark Brent crude was trading 0.12 percent higher at $75.28 per barrel.