The Indian stock market opened on a firm note on Thursday with investors indulging in some brisk buying in early trades, tracking a fairly steady trend in global markets after the U.S. Federal Reserve chief Ben Bernanke reiterated that the accommodative monetary policy will continue for the foreseeable futures in the U.S.
The Indian government's decision to hike foreign direct invetment limits in several sectors too continued to aid sentiment.
The BSE benchmark Sensex, which rose to 20,059.03 after opening with a positive gap of over 50 points at 19,999.51, is currently up 81.21 points or 0.41% at 20,029.94. The Nifty index of the National Stock Exchange is up 18 points or 0.3% at 5991.30, after surging to 6005.60 in early trades.
FMCG stocks, among the most impressive performers in the previous session, are trading firm once again. Consumer durables, metal and capital goods stocks are also trading higher.
Select oil, realty, healthcare and PSU stocks are up with notable gains. Power, information technology, bank and automobile stocks are a bit subdued.
Hindustan Unilever, the top gainer in the Sensex, is up more than 3% at Rs 706. Hindalco, ONGC and Jindal Steel & Power are trading higher by 2% - 2.2%. Tata Power, Wipro, BHEL, Dr Reddy's Laboratories, Larsen & Toubro, Bharti Airtel, Cipla, Sun Pharmaceutical Industries and Hero Motocorp are up 0.5% - 1.5%.
Lupin, DLF, IndusInd Bank, Cairn India, Jaiprakash Associates, Asian Paints, BPCL, ACC, NMDC, Sesa Goa and Bank of Baroda are up 0.5% - 1.5%.
Kotak Bank, Mahindra & Mahindra, Ultratech Cement, NTPC, IDFC, HCL Technologies, Axis Bank, Punjab National Bank, ICICI Bank and HDFC Bank are trading weak, losing 0.5% - 1.6%. State Bank of India, Tata Consultancy Services, Infosys, Reliance Industries and Tata Steel are down marginally.