BSE Sensex opened higher by 186.62 pts or 0.24 per cent to trade at 77,527.70 as of 9.15 am, and Nifty 50 was up by 46.40 pts or 0.2 per cent at 23,584.25.
All sectoral indices except realty and FMCG traded in the positive territory. Nifty media increased by 1.09 per cent to trade at 2,023.45. Nifty PSU Bank was up 0.54 per cent to trade at 7,374.55, and Nifty Bank rose 0.37 per cent to trade at 51,895.55.
Commenting on nifty outlook, Anand James, Chief Market Strategist,Geojit Financial Services, said, “Dips came too early in the week to have triggered sustainable weakness as they attracted bargain buying to push Nifty back into the neutral territory by close of the day, yesterday. And yet, the 23580-630 region pencilled down yesterday as the upside marker, remains intact, suggesting that the prospects of a deeper fall towards 23100-22700 is very much alive. But, for now, expect consolidation within the 23350- 630 band, with only feeble expectations of an upside break towards 23960-24130.”
Stocks to watch
The top gainers of the Nifty 50 pack as of 9.21 am were Divi’s Lab (1.12%), Ultratech Cement (1.03%), HDFC Bank (0.98%), SBI (0.90%) and Hindalco (0.77%). While, Asian Paints (-0.41%), SBI Life (-0.41%), HCL Tech (-0.38%), Kotak Mahindra Bank (-0.27%) and Tata Consumer Products (-0.27%) were the major laggards.
Borosil stock surged 4.33 per cent to trade at ₹359.85 on the NSE. The company had launched qualified institutional placement to raise funds and fixed the floor as ₹331.75.
Schaeffler India stock increased 1.55 per cent to trade at ₹4,725.05 on the NSE after it announced the launch of its Planetary Gear System (PGS) from Schaeffler’s Hosur Plant.
Mastek board has approved extending corporate guarantee upto $28.8 million to secure facility to be availed by Mastek Inc., wholly-owned first level step-down subsidiary in USA. Stock traded at ₹2,711 on the NSE, up by 0.06 per cent as of 9.24 am.
Kalpataru Projects International Limited (KPIL) stock rose 1.96 per cent on the NSE, trading at ₹1,196.40 after the company along with its joint ventures (JVs) and international subsidiaries secured new orders of ₹2,333 crore.
Hero MotoCorp stock traded at ₹5,533 on the NSE, up by 0.15 per cent as of 9.33 am, after it announced that it would increase the prices of select two-wheeler models by up to ₹1,500 due to higher input costs. The revised prices will be effective July 1.