Stock market live updates: The domestic markets perked up on Thursday, opening firmly higher after the US Fed eventually hinted at slowing down rate hikes, which lifted global stocks.
The BSE Sensex rose 500 points to 56,313, and the NSE Nifty50 gained 120 points to 16,760.
All Sensex stocks opened higher. Bajaj Finance led gains on the index, up over 5 percent. Bajaj Finserv moved 4 percent higher. Tata Steel, IndusInd Bank, Infosys, Wipro, Axis Bank, and Kotak Bank were the other notable winners.
On the flip side, Dr. Reddy’s and Sun Pharma came under pressure, slipping to 2 percent. Bharti Airtel, ITC, and Nestle were also subdued.
In the broader markets, Nifty500, Nifty MidCap 50, and Nifty SmallCap 50 also sat in green, up to 0.7 percent higher.
Within sectors, Bank, Financials, and IT indices on the Nifty led gains, moving over 1 percent up. While Auto and Pharma pockets suffered losses.
Among stocks, Biocon shed over 5 percent despite posting a 71 percent YoY increase in consolidated net profit to Rs 144 crore in Q1FY23.
Tata Motors slipped around 3 percent after its Q1 consol loss widened more than expected to Rs 5,007 crore compared to Rs 4,451 crore a year earlier.