Opening Bell: Sensex surges over 500 points, Nifty above 17700 level – Banking and financials lead the surge

The domestic market started Thursday’s session in line with its global peers, as Sensex gained over 500 points at the open and Nifty50 began above the 17700-level. Sectors such as IT, Realty, Banking, and Financials aided the maximum surge to the market today at the open.

At the market open, the BSE Sensex was up 503.16 points or 0.86 per cent to 59320.4 and Nifty50 was up 176.9 points or 1.01 per cent to 17711.7. Following the benchmarks suite, the broader markets jumped too as the Nifty mid cap up by 0.82 per cent and the Nifty small cap up by 0.7 at the open. 

As many as 45 stocks advanced and 5 stocks declined minutes after the market open. Eicher Motors gained most by over 3 per cent followed by Coal India up almost 3 per cent – these heavyweights soared on the back of strong July-end quarter results reported on Wednesday.

While other heavyweights such as Bajaj Finserv, Wipro and Infosys were also among the top gainers on Nifty today, each up between 1.5-2 per cent at the market open.

Despite strong earnings, the Tata Group company stock – Tata Consumer shows weakness, down nearly 1 per cent in the early morning trade, followed by Hindalco and SBI Life each slip marginally.

All sectors opened in the green today. Nifty IT gained most by over 2 per cent, followed by Nifty Bank and Financial services each up over 1 per cent so was the Realty index up over 1 per cent in the early morning trade on Thursday.