Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — traded on a flat note during the mid-afternoon session on Thursday on the back of broadly positive Asian markets and healthy buying in automobile, metal and healthcare stocks.
Around 12 p.m., the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) was up 12.25 points, or 0.12 per cent, to trade at 9,928.45 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,738.74 points, traded at 31,677.34 points — up 15.37 points, or 0.05 per cent, from its previous close at 31,661.97 points.
The Sensex has so far touched a high of 31,814.96 points and a low of 31,666.70 points during intra-day trade.
The BSE market breadth was bullish with 1,421 advances and 878 declines.
“The markets opened higher taking lead from Asian markets and Wall Street after US President Donald Trump and congressional leaders agreed to raise the government debt limit until December, eliminating the risk of a government shutdown for now,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“The Indian rupee strengthened marginally against the US dollar. The shares of Coal India, Adani Ports, ICICI Bank rose, whereas the shares of NTPC and HDFC Bank fell.”
On Wednesday, the benchmark indices were pulled lower by negative global cues, coupled with heavy selling pressure in index heavyweights like Sun Pharma and ITC and substantial outflow of foreign funds.
The Nifty50 fell by 36 points, or 0.36 per cent, to close at 9,916.20 points, while the Sensex closed at 31,661.97 points — down 147.58 points, or 0.46 per cent.