Equity indices in green on positive global cues, metal stocks shine

Equity benchmark indices were in the positive territory during early hours on Thursday tracking positive developments on the global horizon.

Equity benchmark indices were in the positive territory during early hours on Thursday tracking positive developments on the global horizon. At 10:15 am, the BSE S&P Sensex was up by 128 points at 36,852 while the Nifty 50 edged higher by 59 points to 10,904.

At the National Stock Exchange, sectoral indices were mixed. Nifty metal gained by 2.4 per cent. Nifty auto, FMCG, IT and pharma too were in the green but financial services, PSU bank and realty witnessed marginal losses. Among stocks, ONGC gained by 6.1 per cent, Coal India by 5.1 per cent, NTPC by 4.6 per cent, and Indian Oil Corporation by 4.5 per cent.

Metal stocks were up with Vedanta gaining 2.8 per cent, Tata Steel by 2.6 per cent and JSW Steel by 2.1 per cent. However, HDFC slipped by 2.1 per cent to Rs 2,054.35 per share while ICICI Bank was down by 1.5 per cent, State Bank of India and Kotak Mahindra Bank lost by 0.6 per cent each.

Meanwhile, Asian stocks shot up after China announced another round of trade talks with the United States next month. The development came amid fears of an escalating trade war that could trigger a global economic recession. The United States plans to increase the tariff rate to 30 per cent from the 25 per cent duty already in place on 250 billion dollars worth of Chinese imports from October 1.(ANI)

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