Markets open higher tracking positive global cues; metal stocks shimmer

All sectors, except IT, were trading in the positive zone.

Sep 12, 2019 09:09 IST India Infoline News Service

Stock Market Up
Indian equity markets saw a positive opening on Thursday after ending higher for five straight sessions, thanks to the upbeat sentiment supported by positive global developments.

The Sensex rose 118 points at 37,389 and the Nifty was up by 32 points at 11,068 (9.33 AM).

Sectorally, Nifty Metal was the top gainer, followed by Media and PSU Bank. All sectors, except IT, were trading in the positive zone.

The Nifty Metal index was up 1.23% led by gains in Jindal Stainless (Hisar), Jindal Steel, and Tata Steel. Metal stocks shone on an uptick in sentiment with respect to the US-China trade dispute.

Bank Nifty also traded higher at 27,944.

ICICI Bank, Tata Steel, and IOC were the top gainers on the NSE, while Yes Bank, Bharti Infratel, and Tata Motors were the top losers.

India Vix was down 2.47% at 14.99. 

Asian markets were trading higher today as trade truce hopes rose along with expectations that the European Central Bank will trigger another wave of monetary easing by global central banks.

While China exempted duties on some US anti-cancer drugs and other goods, US President Donald Trump said that he would defer duties on some Chinese goods, which buoyed markets today.  

On the currency front, the Indian rupee opened higher by 22 paise at 71.43/$ vs. Wednesday's close of 71.66/$.

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