Opening bell: Markets trade higher amid positive global cues; Sensex at 62,165.76, Nifty at 18,347.45

Opening bell: Markets trade higher amid positive global cues; Sensex at 62,165.76, Nifty at 18,347.45

The stocks of Asian Paints, Gujarat State Petronet, Siemens, Dr Lal Pathlabs, Eicher Motors and Aditya Birla Capital will be in focus as the companies are announcing the results for the last quarter today.

FPJ Web DeskUpdated: Thursday, May 11, 2023, 09:18 AM IST
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Opening bell: Markets trade higher amid positive global cues; Sensex at 62,165.76, Nifty at 18,347.45 | File

The markets on Thursday opened in green with Sensex at 62,165.76, up by 225.56 points and Nifty rose by 32.35 points at 18,347.45. Infosys, HDFC Bank, HCL Tech, HDFC and Tech Mahindra were the top gainers whereas IndusInd Bank, ITC, Tata Steel, Power Grid and Bharti Airtel were the top losers.

The stocks of Asian Paints, Gujarat State Petronet, Siemens, Dr Lal Pathlabs, Eicher Motors and Aditya Birla Capital will be in focus as the companies are announcing the results for the last quarter today.

Markets on Wednesday

The markets on Wednesday closed in green with Sensex up by 178.87 points at 61,940.20, Nifty was at 18,311.75 gaining 45.80 points. IndusInd Bank, Power Grid, Tata Motors, Bajaj Finance and NTPC were among the gainers whereas HCL Tech, L&T, TCS, Titan and Tata Steel were among the losers.

Global markets

Slightly lower-than-expected increase in April inflation and the latest artificial intelligence rollout by Alphabet resulted in Nasdaq reaching its highest intraday level in over eight months during the Wednesday trading session. The Labor Department's Consumer Price Index went up 4.9 per cent in April from a year ago, in comparison to the market expectation of 5 per cent increase.

S&P 500 jumped 18.47 points to 4,137.64 and Nasdaq Composite gained 126.89 points at 12,306.44. However, the Dow Jones Industrial Average slipped 30.48 points to 33,531.33.

The Asian markets continued to stay mixed with Japan's Nikkei 225 seeing a fall of 61.33 points, Singapore's SGX Nifty was up 31.50 points at 18,390 and Hong Kong's Hang Seng gained 56.46 points at 19,818.66. Even South Korea's KOSPI was flat with a gain of 8.90 points at 2,505.41.

Oil prices

After strong demand for fuels in the US outweighed concerns regarding the world's biggest oil producer and consumer defaulting on its debt the oil prices rose in the early Asian trade. Brent crude futures were up by 26 cents at $76.67 per barrel and crude futures gained 28 cents to $72.84.

Rupee

Indian rupee on Thursday opened at 81.95 per dollar against Wednesday's close of 81.99 per dollar.

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