On the currency front, rupee reached its key level of 70/$ and opened 19 paise higher at 70.06 against the dollar on the back of the sharp rally in the American currency against its major peers.
The Sensex rose 16 points at 39,070 levels and the Nifty gained 13 points at 11,739 levels, struggling to cross its key level of 11,750.
Among stocks, Bharti Infratel, Tata Motors, Maruti, Adani Ports, and Bajaj Auto were the top losers on the NSE. On the flip side, Grasim, UltraTech Cement, Yes Bank, BPCL, and Power Grid were the top gainers.
Bharti Infratel declined 4% on Thursday amid disappointing earnings for the fourth quarter on FY19. Bharti Infratel reported flattish net profit for Q4FY19 on the back of a sharp drop in co-locations on its telecom sites. The net profit for Q4FY19 came in at Rs607.6cr and consolidated revenue from operations for the quarter ended March 31, 2019 was at Rs3,600.3cr.
Interestingly, UltraTech Cement extended its upward momentum after the company reported a strong set of numbers for Q4FY19, ahead of estimates, on operating fronts. The company has reported consolidated revenue growth of 17.4% yoy to Rs10,905.2cr, broadly in-line with estimates.
All sectoral indices on the NSE were trading in the green except the Nifty Auto index, which extended its fall and declined 0.2%.
Notably, the volatility index, India VIX, fell 1.31% at 23.40.
Market breadth was largely in favor of advances on the NSE with 980 shares advancing, 498 shares declining, and 577 shares remaining unchanged.
Contributors of the S&P BSE SENSEX 50 were HDFC Bank, L&T, Yes Bank, HDFC, UltraTech Cement, Axis Bank, ITC, and Grasim.
On the currency front, rupee reached its key level of 70/$ and opened 19 paise higher at 70.06 against the dollar on the back of the sharp rally in the American currency against its major peers.
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* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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