Sensex rallies over 450 points; Nifty above 10,250 ahead of RBI policy
Benchmark equity indices climbed over 1% on Thursday amid a rally in global markets after the US expressed willingness to negotiate a resolution to the China trade fight after the proposed Trump administration proposed tariffs on $50 billion in Chinese goods.
At 10:33 AM, the BSE Sensex was trading at 33,382, up 467 points, while the Nifty50 index was trading at 10,282, up 153 points.
The BSE Midcap and the BSE Smallcap indices were up 1.38% and 1.55%, respectively.
The Reserve Bank of India will also announce its monetary policy later in the day.
Indoco Remedies stock soared 3% on accreditation renewal from Japanese regulatory authorities.
Tyre stocks rallied today. Apollo Tyres rallied 4.5% while Balkrishna Industries and MRF gained 3%.
A share of Smartlink Network Systems rallied 19% as a meeting of the board of directors of the company will be held on April 7 to consider the proposal to buy-back the fully paid-up equity shares of face value Rs2.
Volatility index India VIX slipped 8.62% to 14.9300.
Hindalco (+4.1%), Indiabulls HF (+3.1%), Vedanta (+3.1%), UPL (+2.9%) and Tata Motors (+2.8%) were the top gainers on Nifty50.
Infratel (-1.4%) and Bharti Airtel (-0.70%) and were the top losers in today’s trade.
Out of 2,017 stocks traded on the NSE, 1,415 advanced, 194 declined and 408 remained unchanged today.
A total of 12 stocks registered a fresh 52-week high in trade today, while 11 stocks touched a new 52-week low on the NSE.
The Indian rupee opened higher by 12 paise at 65.03 per dollar on Thursday versus the previous close of 65.15.
Asian indices opened sharply higher on bouts of short covering coupled with value buying, as global cues turn positive. With China & Hong Kong markets shut for holidays over next few days.