Opening Bell: Markets open higher tracking positive global cues

On Thursday, domestic equity market benchmark indices, BSE Sensex and Nifty 50 opened in green. The trend was followed with the higher overnight closing of key global indices due to strong earnings from Microsoft and Visa but still being infused with concerns of global economic slowdown, lockdown in China, high inflation, and US rate hikes. The equity markets are eyeing next week's major event, the Federal Reserve's latest policy meeting, where a lifting of interest rates is expected.

At the open, Sensex was up 295.96 points or 0.52% at 57,115.35, and the Nifty was up 93.20 points or 0.55% at 17,131.60. About 1525 shares have advanced, 398 shares declined, and 78 shares are unchanged. India VIX slipped 2.07% at the open trading at 20.18.

HUL, Sun Pharma, UPL, Apollo Hospitals and Hindalco Industries were among major gainers on the Nifty, while losers were HCL Technologies, Bharti Airtel, Britannia Industries, Bajaj Auto and Kotak Mahindra Bank. On Sensex, the leading stocks were HUL, Sun Pharma, Asian Paints, M&M and IndusInd Bank while the only losers were HCL Tech, Bharti Airtel, Kotak Mahindra Bank, HDFC Bank and TCS

In the broader markets, at 9.32 am, BSE Mid Cap and Small Cap indices traded higher, up 0.51% and 0.48%, respectively. In the BSE Midcap index, the top gaining stocks were Indian Hotel Company, Adani Power, Ruchi Soya, Glenmark Pharma and Varun Beverages whereas in BSE Smallcap index, Chennai Petrochem, Mangalore Refinery & Petrochemicals, Yaari Digital Integrated Services, CarTrade Tech, Camline Fine Sciences were the top gainers.

On the sectoral front, indices were trading on a positive note with BSE Oil & Gas and BSE Power Index being the leaders gaining more than 1%. The top power stocks lifting the index were Adani Power, Adani Transmission, Adani Green, NHPC and Siemens whereas the top oil & gas stocks pulling up the index were Adani Transmission and Gas, GAIL, Indian Oil Corporation, Petronet LNG and Bharat Petroleum Corporation.