The Indian equity benchmark indices opened higher on Thursday led by buying in IT stocks amid mixed global cues.
At 9:15 am, the Sensex opened 0.12 percent, or 64.84 points higher at 52,968.89, while the Nifty50 index opened at 15,872.15, up 18.20 points, or 0.11 percent.
Broader markets supported the upward momentum, with Nifty Smallcap100 and Nifty Midcap100 indices up 0.62 percent and 0.23 percent, respectively.
Among sectoral indices, the Nifty IT index saw most gains, followed by Nifty Pharma, Nifty Realty and Nifty FMCG, while selling was seen in metals, financial services and private banking indices in the early morning session.
L&T, Wipro, Infosys, HCL Technologies and Tech Mahindra were the Nifty50 top gainers, while ONGC, NTCP, Titan Company, Asian Paints and ICICI Bank were the top index losers.
The share price of L&T Technology Services jumped 10 percent after the company’s Q1FY22 net profit rose 11.1 percent to Rs 216.2 crore from Rs 194.5 crore and revenue rose 5.4 percent to Rs 1,518.4 crore from Rs 1,440.5 crore, QoQ.
Globally, Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the US economy was “still a ways off” from levels the central bank wanted to see before tapering its monetary support, said a Reuters report.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade while Japan’s Nikkei dropped 0.4 percent.
Meanwhile, crude oil prices fell more than 1 percent, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as US fuel stocks rose, raising concerns about demand in the world's largest consumer.
Brent crude futures for September dropped 91 cents, or 1.2 percent, to $73.85 a barrel while US West Texas Intermediate (WTI) crude for August was at $72.21 a barrel, down 92 cents, or 1.3 percent.