The Indian equity market opened higher on Thursday, October 15, despite weak global cues. Buying in IT, banking and FMCG stocks supported the benchmark indices, with the BSE Sensex rising more than 345 points and the NSE Nifty gaining nearly 97 points to cross the 22,700 level. Shares of major IT companies, including TCS, Infosys and Tech Mahindra, advanced, while select energy and public sector banking stocks declined.
The domestic market's opening gains coincided with mixed breadth, as the number of advancing and declining stocks remained nearly equal.
Shortly after the market opened on Thursday, the BSE Sensex rose 345.57 points, or 0.47%, to 73,127.46. The NSE Nifty gained 97.05 points, or 0.43%, to trade at 22,719.75.
According to early market data, 1,097 stocks were trading higher, while 1,141 stocks declined. Another 181 stocks remained unchanged.
The benchmark indices advanced amid buying in major IT and banking stocks, although the broader market showed mixed performance.
The IT sector led the market's gains in early trade. The Nifty IT index rose 1.39% to 30,590.30, supported by buying in technology stocks.
The Nifty FMCG index advanced 0.58%, while the Nifty Services index gained 0.57%. The Nifty Realty index rose 0.36%, and the Nifty Bank index increased 0.27%.
In contrast, the Nifty Energy index declined 1%. The Nifty PSU Bank index fell 0.79%, while the Nifty PSE index dropped 0.72%. The Nifty Infra index also traded marginally lower.
The sectoral performance reflected gains in selected segments alongside declines in energy and public sector-related stocks.
Technology stocks featured among the leading gainers in early trade on Thursday. Tech Mahindra rose 2.10%, while TCS gained 1.92% and Infosys advanced 1.68%.
Tata Consumer Products increased 1.42%, and ICICI Bank rose 1.29%. Bharti Airtel gained 0.88%, while HCL Technologies advanced 0.78%.
Buying in major IT stocks contributed to the gains in the benchmark indices.
Several major stocks traded lower despite the gains in the benchmark indices. Adani Enterprises fell 1.28% in early trade, while Adani Ports declined 1.22% and Hindalco Industries dropped 1.16%.
Bharat Electronics (BEL) shares fell 1.01%. Trent declined 0.87%, while Larsen & Toubro (L&T) traded 0.69% lower.
The declines in these stocks accompanied the broader market's mixed performance, with gains concentrated in selected sectors and companies.
