Share Market Today: Thirty one out of 50 Nifty stocks advanced in trade.The domestic stock markets opened in the green amid easing of tensions between the government and the central bank and strong global cues.
The SP BSE Sensex opened at 34,650.63 as compared to its last close of 34,442.05.
The Nifty50 of the National Stock Exchange (NSE) started at 10,441.70 against its previous close of 10,386.60.
In the first few minutes of trade, the Sensex traded at 34,580.22, up 138.17 points or 0.40 per cent and the Nifty at 10,415, with a gain of 28.40 points or 0.27 per cent.The Sensex hit an intraday high of 34,679.93 and the Nifty of 10,441.90.Thirty one out of 50 Nifty stocks advanced in trade.Gaining between 5.45 per cent and 1.41 per cent, Larsen Toubro, Hindustan Petroleum, Indian Oil, Bharti Infratel, and Hindalco were the top five Nifty gainers.In the sectoral landscape, metal stocks led the gains - the Nifty Metal index was up 0.44 per cent.
IT stocks were, however, under pressure as the Nifty IT index declined 1.59 per cent.Meanwhile in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9 per cent, adding to modest gains the previous day, though this came after a brutal October month, reported news agency Reuters.In overnight trade, Wall Street rose for a second day on Wednesday as strong company results and bargain hunting of beaten-down technology and internet favourites lifted spirits.In the commodities market, oil prices extended previous session's losses, amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown.
The Brent crude January futures contract lost 44 cents, or 0.32 per cent, to trade at $74.72 per barrel by GMT 0054 GMT or 6:24 am IST.On Wednesday, foreign portfolio investors sold while domestic institutional investors purchased net shares of Rs 193.65 and Rs 1,124.92 crore respectively, provisional NSE data showed.
(With Reuters inputs)