Sensex rises over 100 pts, Nifty inches towards previous record high
Equity benchmarks opened higher amid consolidation Thursday, with the Nifty reclaiming 10,100 level despite weakness in Asian peers.
The 30-share BSE Sensex was up 81.95 points at 32,268.36 and the 50-share NSE Nifty gained 23.70 points at 10,103.
Sun Pharma rallied nearly 4 percent, followed by Dr Reddy's Labs, Lupin, Reliance Industries, Tata Motors, GAIL and Aurobindo Pharm.
Wipro plunged 3.5 percent. Kotak Mahindra Bank, HDFC Bank, HDFC, TCS, HUL, Tech Mahindra and Power Grid were also under pressure.
Share price of Thermax gained 3.5 percent on the back of first EPC order in the GCC region.
The Thermax Group has won a USD 43 million contract from a leading cement company in the UAE for a turnkey captive power plant.
MS Unnikrishnan, MD & CEO of Thermax said, "This is the first EPC order that Thermax will be executing for a GCC (Gulf Co-operation Council) country. We intend to expand our footprint in this region where we have been providing business solutions."
Major indexes in Asia were mostly flat with a negative bias after the release of softer-than-expected China data. Markets also digested the rise in US Treasury yields overnight following tax reform headlines out of Washington, although the dollar's advance paused.
Japan's Nikkei 225 edged down 0.12 percent after three straight days of gains. Across the Korean Strait, the Kospi rose 0.24 percent.
The S&P/ASX 200 slipped 0.16 percent while the Hang Seng Index declined 0.42 percent. The Shanghai Composite traded 0.17 percent lower.
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