Opening Bell: Sensex Rises Over 100 Points, Nifty Reclaims 12,200

Equity benchmark BSE Sensex rose over 100 points in opening session on Thursday led by gains in metal, energy and banking stocks amid positive cues fro Chinese markets. The 30-share BSE index was trading 125.84 points or 0.30 per cent higher at 41,431.86. Similarly, the broader NSE Nifty rose 46.55 points or 0.38 per cent to 12,229.05.

Tata Steel was the top gainer in the Sensex pack, rising up to 1.62 per cent, followed by UltraTech Cement, IndusInd Bank, Bharti Airtel, Bajaj Auto and Reliance Industries.

On the other hand, Titan was the top loser, shedding up to 0.94 per cent. NTPC, PowerGrid, Asian Paints and Mahindra and Mahindra were also trading in the red.

In the previous session, the 30-share gauge gained 52.28 points or 0.13 per cent to close at 41,306.02, while the Nifty settled 14.05 points, or 0.12 per cent, higher at 12,182.50

Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 58.87 crore, while domestic institutional investors purchased shares worth Rs 208.47 crore on Wednesday, data available with stock exchanges showed.

According to traders, domestic investors took positive cues from Asian markets after China’s central bank announced fresh stimulus for the country’s stuttering economy.

Bourses in Shanghai, Hong Kong were trading significantly higher, while those in Seoul were in the red. Stock exchanges in Tokyo remained closed for New Year holidays.

Brent futures, the global oil benchmark, slipped 0.32 per cent to USD 66.20 per barrel.

Meanwhile, the rupee depreciated 9 paise to 71.31 against the US dollar in morning session.