At 10:11 AM, the S&P BSE Sensex is trading at 28,439 up 99 points, while NSE Nifty is trading at 8,779 up 33 points.
India is well on its way to emerge as a major player in global economy, Finance Minister Arun Jaitley said reacting to the latest WEF’s global ranking. India rose 16 ranks, faster than any other, to climb to 39 in FY17 among 138 countries.
OPEC members agreed to cut output to boost prices despite differences between Iran and Saudi Arabia. Crude oil prices rallied taking with it global equity markets.
ONGC, Bajaj Auto, RIL, GAIL, Hero MotoCorp, Coal India, SBI and Adani Ports are among the gainers, whereas Bharti Airtel, Wipro and NTPC are losing sheen on BSE.
Some buying activity is seen in energy, oil and gas, auto, industrial, finance, banking and metal sectors, while telecom sector is showing weakness on BSE.
The INDIA VIX is down 0.34% at 13.8000. Out of 1,869 stocks traded on the NSE, 474 declined, 1,018 advanced and 474 remained unchanged today.
A total of 61 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.
Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.
Asian markets are trading mixed. In Japan, the Nikkei 225 jumped 1.4%. Hong Kong's Hang Seng and Shanghai Composite are trading in green.
The rupee opened marginally higher one paise at 66.45/$ against US Dollar Thursday as against the previous close of 66.45/$.
Wall Street ended higher on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut crude oil production. As crude oil prices rose. The Dow Jones industrial average rose 0.61% to end at 18,339.24 points and the S&P 500 gained 0.53% to 2,171.37. The Nasdaq Composite added 0.24% to 5,318.55. Brent crude was up 0.4% at USD 48.87 a barrel, adding to overnight gains of 5.9%.
On the economy front, EPFO will invest 8-10% of its annual incremental corpus amounting to nearly Rs.14,000 crore in the equity market this financial year, increasing its investments in stocks, according to the media report.
Sebi allowed commodity derivative exchanges to launch options contracts for trading with the aim of increasing liquidity and attracting more investors to the commodities market.