Opening Bell: Markets extend winning streak; Sensex up over 220 points, Nifty50 above 17450 – IT, Metal and Auto stocks gain

The domestic markets opened higher continuing its winning streak during Thursday’s session on the back of positive global cues. The BSE Sensex surged over 220 points, while Nifty50 opened above the 17450 levels, led by IT, Metal, and Auto stocks today

The BSE Sensex gained 220.75 points or 0.38 per cent to 58571.3, while Nifty50 surged 74.9 points or 0.43 per cent to 17463.1 at the market open. The broader markets outperformed the benchmarks as both mid and small-cap gained by over 0.7 per cent minutes after the market opened today.

As many as 25 stocks advanced and 25 declined at the market open. Hindalco shares gained most by almost 2.5 per cent post the company reporting strong Q1 results on Wednesday, followed by Infosys shares jumped almost 2 per cent at the market open.

While Tata Motors, Wipro, and UPL each gained between 1-1.5 per cent at the market open on Thursday.

On the contrary, FMCG stock such as Tata Consumer, and Britannia slipped in the early morning trade as the former down almost 3 per cent and the latter slipped over 0.5 per cent. NTPC, SBI, and ONGC are among the top Nifty losers minutes after the market opened today.

In the early morning trade, all sectors except FMCG, Realty, and PSU Bank witnessed weakness. Nifty IT gained most by over 1.5 per cent, followed by Metal up nearly 1 per cent minutes after the market opened on Thursday.