Opening Bell: Sensex surges over 450 points, Nifty50 starts above 16750 – Bajaj twins among top gainers

Indian market started Thursday’s session with a gain of nearly 1 per cent following positive global cues. The BSE Sensex surged over 450 points, while Nifty50 opened above the 16750-level, led by metals, banking, and financial stocks.

At the market open, the BSE Sensex surged over 451 points or 0.81 per cent to 56267.6 levels, while Nifty50 gained by 133 points or 0.8 per cent to 16774.8 levels. Even the broader markets followed the benchmarks suit as the Nifty Midcap gained by 0.6 per cent and the Nifty Smallcap up by 0.8 per cent.

As many as 44 stocks advanced on Nifty50, while 6 declined minutes after the market open. Tata Steel surged most by 4 per cent, followed by Bajaj twins – Bajaj Finserve and Bajaj Finance each up around 3.5 per cent, while IndusInd Bank, SBI each gained between 1.5-2 per cent at the open.

On the contrary, Tata Motors on the back of poor results opened as top laggard on Nifty, down over 1.5 per cent, followed by Sun Pharma down almost 1 per cent. While Dr Reddy’s ahead of Q1 results today slipped marginally, similarly, Ultra Tech Cement, Nestle India and Cipla also opened negative.

Sectorally, Nifty Bank gained most by around 1 per cent, while Nifty Financial up almost 1.5 per cent in the early morning trade. Auto FMCG, and Pharma Indices slipped in the early morning trade dragging the benchmark in the red.