Equity indices edge higher on positive global cues, IT and metal stocks gain

Equity benchmark indices ticked up during early hours on Thursday with IT and metal stocks gaining ground.

Equity benchmark indices ticked up during early hours on Thursday with IT and metal stocks gaining ground. At 10:15 am, the BSE S&P Sensex was up by 76 points or 0.2 percent at 38,446 while the Nifty 50 gained by 35 points or 0.31 percent at 11,343.

All sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1.2 percent and metal by 1.8 percent. Among stocks, Hindalco was up by 4.4 percent to Rs 183.45 per share and JSW Steel by 2.5 percent to Rs 263.45.

IT majors too witnessed smart gains with Tech Mahindra moving up by 1.6 percent, HCL Technologies by 1.5 percent, Tata Consultancy Services by 1.2 percent, and Wipro by 1.2 percent. However, among those which lost were Eicher Motors, Tata Motors, Bajaj Auto, Bharti Infratel, ITC, Cipla and Sun Pharma.

Meanwhile, Asia's stock markets ruled higher after steady virus figures and a surprising jump in US inflation boosted sentiment. MSCI's broadest index of Asia Pacific shares outside Japan was up by 0.2 percent, and gains in semiconductor makers drove Japan's Nikkei 1.9 percent higher to a six-month peak. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)