The Indian stock markets opened in the positive territory on Thursday, while the buying activity was quite prominent especially in the IT and PSU bank sectors.
At the opening of the day on BSE Sensex, it stands at 81,707.38 and recorded a gain of 206.02 points or 0.25 percent during the early trade. NSE Nifty, however, stood at 24,986 up by 14.70 points or 0.06 percent.
The market remained bullish. NSE remained ahead with 1,114 stocks up and 903 down in the market. Simultaneously, at BSE, 1,401 were up while 950 were down in the trade.
The Nifty Bank index stood at 51,813.30 after rising 12.25 points or 0.02 percent gain. The Nifty Midcap index stood at 59,339.85 after falling by 112 points or 0.19 percent.
The Nifty Smallcap 100 was at 19,317.35, up by 12.45 points or 0.06 percent.
From the Sensex pack, Asian Paints, Bharti Airtel, Infosys, and SBI led the gains, and HDFC Bank, Axis Bank, Mahindra & Mahindra, and Maruti Suzuki stood among the losers.
From the Nifty pack, Hindalco, SBI, Infosys, and Wipro featured in the top gainers, and Bajaj Auto, Hero Motocorp, and Mahindra & Mahindra topped the list of losers.
Market analysts said the market had entered into a consolidation phase, with little movement inside the chart structure.
"While prices tested the lower end of the trading range and closed near it, a break below 24,900 could open doors for further weakness, potentially testing the 24,700 level," they said.
All Asian markets except Tokyo were up. Momentum was positive in markets at Bangkok, Shanghai, Hong Kong, Jakarta, and Seoul.
US markets also ended the day in the green on Monday.
On Wednesday, FIIs sold equities worth Rs 3,436 crore while DIIs bought equities worth Rs 2,256.29 crore on the same day.
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