Strength in select counters such as Yes Bank pushed the indexes higher amid cautious tradeDomestic stock markets started Thursday's session on a cautious note ahead of the expiry of monthly derivatives contracts amid weakness in Asian peers.
The SP BSE Sensex rose as much as 47.99 points to 39,102.67 and the NSE Nifty moved to 11,749.30, up 23.15 points from the previous close.
Strength in select counters such as Yes Bank pushed the indexes higher while weakness in auto stocks offset advances in fast-moving consumer goods and pharma counters.
The markets moved in a tight range in early deals a day after the indexes snapped a three-day fall to finish 1.3 per cent higher each.At 9:27 am, the Sensex traded 41.61 points higher at 39,096.29, while the Nifty was up 14.35 points at 11,740.50.Yes Bank, UltraTech Cement and Grasim stocks - trading between 2.28 per cent and 2.53 per cent higher - were the top gainers on the 50-scrip index at the time.
On the other hand, the top Niftylaggards were Bharti Infratel, Maruti Suzuki India and Asian Paints, trading between 2.57 and per cent and 2.90 per cent lower.HDFC Bank, LT and Yes Bank were the top contributors to the advances on Sensex, while Infosys, Reliance Industries and ICICI Bank were the biggest drags.Equities in other Asian marketsslipped as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent, while Japan's Nikkei average edged up 0.3 per cent.The euro slumped to a 22-month low against the dollar overnight after the drop in German business confidence highlighted the divergence between data in the euro zone and the United States.(With inputs from Reuters)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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