Global cues and lower oil prices lift equity indices, Sensex has risen to over 500 points

During Thursday’s morning trading session, India’s main equity indices — S&P BSE Sensex & NSE Nifty50 – saw healthy gains.

Sector-wise, the most popular indices were those for Consumer Durables, Automobiles, and Realty.

Accordingly, the 30-scrip-sensitive index traded at 59.735.25 points around 11:15 a.m., an increase of 545.52 points or 0.92 percent.

The Sensex opened at 59.632.81 points, up from the previous close of 59.189.73 points.

The NSE Nifty50 was also traded at 17,806.15 point, an increase of 160.15 points or 0.91 percent.

It opened at 17,810.55 point, up from 17,646 points.

“Nifty opened on October 7, with an up gap, following positive global cues. Asian markets traded higher Thursday, buoyed by progress in Washington’s debt-ceiling impasse and a rebound of Chinese technology shares,” Deepak Jasani (Head of Retail Research, HDFC Securities) said.

“It would interesting to see if Nifty experiences any intraday correction after the European markets open.” Likhita Cherpa, Senior Research Analyst at CapitalVia Global Research, stated that the Indian benchmark saw a gap-up start today and will likely recover from its previous session’s decline. The market will experience volatility today as it is the weekly F&O expiry. Some caution may be necessary as India has seen a surge in Covid-19 cases over the last 24 hours.