Markets upbeat as Sensex climbs over 300 points, Nifty above 10,500

Indian markets on Thursday opened positive as both benchmarks gained in early trade in line with Asian peers. Strong performance in financial and banking stocks also helped consolidate positions.

At 9:30 am, BSE Sensex was trading 280.25 points higher at 35,694.70, while NSE Nifty climbed above 10,500 after gaining over 80 points. Sensex climbed past the 300 point-mark by 9:40 am.

Besides positive Asian stock markets, gains in financial stocks like IndusInd Bank, HDFC Bank, SBI, ICICI Bank, HDFC and Bajaj Finance boosted market sentiments. Some of the other gainers in morning trade were ONGC, M&M, Titan and Hindalco.

It may be noted that banks and NBFCs gained after the government approved a special liquidity scheme for them. Another train

Of the few stocks that were trading in red, Tech Mahindra was down over 1.6 per cent while Eicher Motors was down almost 14 per cent. Maruti and Hindustan Unilever also lost ground in morning trade.

On the brighter side, all Nifty sectoral indices were trading in green with Nifty Bank and Media leading the rally.

While upbeat global sentiments helped markets gain a strong footing in early trade, investors are still worried about the sharp rise in cases in India and across the globe.

On Thursday, India recorded over 19,000 cases, taking the total number of cases registered in the country so far above 6 lakh. Over 17,800 people have died in India after testing positive for the deadly virus.

READ | Sensex, Nifty edge higher even as coronavirus cases surge

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