The BSE Sensex was trading 344 points, or 0.43%, higher at 81,342. The Nifty50 was up 108 points, or 0.44%, trading at 24,728 around 9:34 am.
From the Sensex pack, Eternal, Power Grid, Sun Pharma, Reliance, M&M, and HCL Tech were among the top gainers, rising up to 2.5%. Meanwhile, Bajaj Finserv, Bajaj Finance, Axis Bank, Nestle, and HUL opened with losses.
Barring Nifty FMCG, all major sectoral indices advanced at the open, with Nifty Pharma, Oil & Gas, and Auto leading the gains, rising up to 1.2%. Broader markets also moved higher, with the smallcap index up 0.7% and the midcap index rising 0.4%.
Among individual stocks, Hindustan Aeronautics (HAL) opened nearly 2% higher after the company refuted a media report claiming that its negotiations with General Electric (GE) for the local production of GE414 engines had stalled. The state-run aerospace and defence firm called the report “factually incorrect and misleading.”
The MSCI Asia ex-Japan index rose 0.5%, led by gains in Hong Kong and South Korean stocks, with the latter hitting an 11-month high on post-election optimism.Overnight, Wall Street ended mixed, while Treasury yields and the dollar slipped after data showed a contraction in the U.S. services sector in May for the first time in a year.Back home, investors await the Reserve Bank of India’s policy decision on Friday, with the central bank widely expected to cut key lending rates by 25 basis points for the third consecutive meeting.