CHENNAI: Benchmark indices opened on a mildly positive note on Thursday, reflecting cautious optimism amid subdued global cues. The BSE Sensex rose by 137 points (0.17%) to hover around 81,136, while the Nifty50 inched up 38 points (0.15%) to 24,658 in early trade.
The top gainers today in the opening trade under Sensex were Eternal, Power Grid, Sun Pharma, Reliance Industries, M&M, HCL Tech, Adani Ports and NTPC.
While the key losers included Bajaj Finance and Bajaj Finserv, Axis Bank, Nestle India, HUL, Tata Motors and Titan.
Broader Markets & Sectoral Trends
Nifty MidCap 100 was up 0.36% on Thursday in the start, while Nifty SmallCap 100 rose mildly by 0.69%. Among sectoral indices, Nifty Pharma was 1.0% up, led by gains in Dr Reddy’s Lab. Nifty Realty and Nifty FMCG were also up by 0.5% and 0.1% respectively.
Stocks to Watch
Dr Reddy’s Laboratories surged over 3% after announcing a licensing deal with Iceland-based biotech firm Alvotech to co-develop and commercialise a biosimilar of Keytruda (pembrolizumab) for global markets, strengthening its biologics portfolio.
Reliance Infrastructure slumped 3.5% on profit booking despite a favorable verdict from the NCLAT, which suspended insolvency proceedings after the company cleared its ₹92.68 crore dues to Dhursar Solar Power Pvt Ltd.
Global Market Snapshot
Overnight cues from global markets were tepid. US equities ended mixed, with investors awaiting Friday’s crucial US jobs data, while Asian markets were largely flat to negative amid continued concerns over China’s economic recovery and Fed policy direction.
Outlook
According to analysts, markets are expected to remain range-bound ahead of domestic macroeconomic data releases and global central bank commentary. Stock-specific action is likely to dominate the near term, especially in pharma and infrastructure sectors.