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Opening Bell: Sensex trades over 450 points higher, Nifty above 12,000; SBI rallies 4%

Opening Bell: Sensex trades over 450 points higher, Nifty above 12,000; SBI rallies 4%

Opening Bell: Sensex trades over 450 points higher, Nifty above 12,000; SBI rallies 4%
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By Ankit Gohel  Nov 5, 2020 9:33:58 AM IST (Published)

The Indian equity benchmark indices opened higher on Thursday led by buying across the board amid positive global cues.

The Indian equity benchmark indices opened higher on Thursday led by buying across the board amid positive global cues.

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At 9:15 am, the Sensex opened 1.22 percent, or 495.98 points, higher at 41,112.12, while the Nifty50 index opened at 12,062.40, up 153.90 points, or 1.29 percent.
Broader markets, Nifty Smallcap100 and Nifty Midcap100, were up 1.17 percent and 0.73 percent, respectively.
All the sectoral indices were trading in the green led by Nifty PSU Bank, Nifty IT, Nifty Metal and Nifty Financial Services.
SBI, HCL Technologies, Adni Ports & SEZ, Tata Steel and IndusInd Bank were the Nifty50 top gainers, while Hero MotoCorp and Titan Company were the only ones to trade in the red.
The share price of SBI rallied over 6 percent as brokerages raised the target price on the stock after Q2 earnings.
HPCL stock price surged over 4 percent after the company's board approved Rs 2,500 crore share buyback at Rs 250 per share. It reported a net profit of Rs 2,477.4 crore in Q2FY21 as against Rs 1,052.3 crore, YoY.
Globally, Asian shares climbed on Thursday and bonds extended their blistering rally as investors wagered the likely prospect of US policy gridlock would greatly favour some industries while putting a restraining hand on government borrowing, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1.3 percent to reach its highest since February 2018. Japan's Nikkei rose 1.1 percent to a nine-month top and South Korea put on 1.5 percent.
 
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