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NSE Nifty was up by 0.44 per cent or 95.80 to 21,750.55 points, while the BSE Sensex was at 72,391.30 up by 0.49 per cent or 356.61 points.
A total of 3,141 stocks were actively traded, 1,949 advanced, while 1,092 declined and 100 stocks remained unchanged where 193 stocks hit a 52 week high and 12 stocks hit a 52 week low at 10 am on Thursday.
Avdhut Bagkar, Technical and Derivatives Analyst, StoxBox, said, “US market eked out modest gains overnight as the yield on the ten-year note fell to its lowest level in five months after a strong auction, adding to optimism that the Fed will start cutting interest rates soon. Meanwhile, US Reports on weekly jobless claims and pending home sales may attract some attention on Thursday. Indian shares look set to open on a positive note Thursday after Wall Street stocks inched closer to record highs overnight on dovish Fed bets.”
He further added, “On the stock-specific news, Zomato will be in focus as the food delivery giant has received a show cause notice from GST authorities amounting to a tax liability of ₹401.7 crore. However, oil prices, foreign fund flow, and F&O expiry of the December derivatives series will guide the markets.
The 50 index trended strongly following a gap up opening and marked a new life-high of 21,675. With this the January and February Nifty Future closed at a premium of 200 and 340 points than the spot indicating extreme bullish sentiments. The VIX made a new 180 day high after a 6% higher close in the previous trading session warranting a cautious approach going forward.”
Top gainers on the NSE at 10 am include- Hero Motocorp Ltd (1.01%), Bajaj Finserv Ltd (1.31%), SBI life insurance company ltd (1.61%), NTPC limited (1.18%), Mahindra and Mahindra Ltd (1.10%)
Top losers on the NSE at 10 am include- Dr. Reddy laboratories Ltd (-0.44%), Asian paints Ltd. (-0.40%), Larsen and Toubro Ltd (-0.06%)
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