Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 118.2 points to 67,020.11. Meanwhile, the Nifty was also up by 39.55 points to 20,136.15 points.
Among the Sensex firms, UltraTech Cement, Mahindra & Mahindra, Axis Bank, Wipro, Hindustan Unilever, Sun Pharma, Kotak Mahindra Bank and Larsen & Toubro were the major gainers. Tata Steel, Reliance Industries, Tata Motors and NTPC were among the laggards.
In Asian markets, Shanghai and Hong Kong traded with gains, while Seoul and Tokyo quoted in the negative territory. The US markets ended mostly lower on Wednesday.
Overnight weakness in the US markets and subsequent fall in Asian indices could limit the gains, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said in his pre-opening market comment. Meanwhile, Global oil benchmark Brent crude declined 0.18 per cent to USD 82.95 a barrel.
Rupee gains against dollar
Meanwhile, the rupee maintained its gaining momentum for the third straight day and appreciated by 2 paise to 83.30 against the US dollar in early trade on Thursday, tracking positive cues from equity markets and sustained foreign fund inflow. At the interbank foreign exchange, the rupee opened at 83.31 against the dollar and traded in the range of 83.29 to 83.32. It later traded at 83.30 against the greenback, registering a gain of 2 paise over its previous close.