Equity benchmark indices opened in the positive zone, with the Nifty trading above 11,150 levels. Investors remained cautious ahead of exit poll results due on May 19 and final results on May 23, 2019.
Tata Motors, Yes Bank, and JSW Steel are among top gainers, while BPCL, IOC, and Indiabulls HF are among top losers on the Nifty.
The Sensex was quoting at 37,181, up 66 points, while the Nifty was at 11,177, up 21 points. The market breadth was neutral on the NSE with 753 shares advancing, 771 shares declining, and 549 remaining unchanged.
In the broader market, the BSE MidCap index rose 22 points at 14,140, while the BSE SmallCap index had slipped 25 points, or 0.18% at 13,757.
Shares of Tata Chemicals, TGBL jumped in the morning trade after the salt-automobile conglomerate announced the consolidation of its consumer business.
Shares of Lupin declined 4% after the company posted a net profit at Rs289.6cr in Q4FY19 as compared to Rs783.5cr loss in the same quarter of the previous year.
The Indian rupee on Thursday strengthened marginally for third session against US dollar in the opening trade.
The Volatility gauge, India VIX is down 0.62% at 28.47.
The most active stocks on the NSE are Tata Motors, Yes Bank, and Indigo.
On the economy front, India’s trade deficit for April month widened to 5-month high of $15.3mn on the back of rising gold imports, data released by the commerce ministry showed.
Oil prices edged up on the prospect of mounting tensions in the Middle East hitting global supplies. Brent crude rose 0.7% to $72.25 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.45 a barrel, up 0.7%.