Bulls dominate bears; BPCL top Nifty gainer
At 9:15 AM, the BSE Sensex opened higher by 59 points at 29230, while the Nifty50 opened higher by 24 points at the 9055 mark.
BPCL is the top Nifty gainer and Yes Bank is the top Nifty loser in the morning hours. BPCL is trading at Rs 654 per share up by 1.2%. Yes Bank is trading at Rs 1465 per share down by 0.4%.
There are 949 advances, 407 declines and 463 unchanged stocks on NSE reflecting fairly positive bias floating in the market.
The level of 8,980-9,000 is an important level to watch out for. On the upside, Nifty50 needs to cross and hold above the level of 9,075 to continue its upward movement.
The rupee opened at 65.40 per dollar higher by 4 paise.
The US stock market bounced back from the previous day sell-off to close marginally higher on Wednesday as gains in tech stocks helped lift indices. However, a 7% drop in Nike Inc shares weighed on Dow Industrials, which posted a fifth consecutive decline. The S&P 500 gained 4 points to close at 2,348. The Nasdaq Composite closed 28 points higher at 5,822. The Dow Jones Industrial Average closed 7 points lower at 20,661.
Asian stocks are trading with a positive bias on Thursday as rebound in the US equities provided some relief to the market after a sell-off on Wednesday. Japan’s Nikkei 225 is trading with gains of 9 points. Hang Seng is trading higher by 96 points and Shanghai Composite has gained 7 points.