Stock indices open higher when risk appetite improves

The Nifty 50 index rose 0.85% to 17,744.20. (File)


Stock indices rose today as top-weighted financial and information technology stocks rose after strong US economic data and investment in the Adani group of companies boosted risk appetite.

As of 9:37 am IST, the Nifty 50 was up 0.85% at 17,744.20, while the S&P BSE Sensex was up 0.83% at 60,309.16.

All 13 major sectoral indexes rose, with financials and information technology adding 0.8% and 1.5%, respectively.

All Adani Group shares also rose on Thursday following a $1.87 billion investment in the conglomerate by US boutique investment firm GQG Partners.

The investment fueled a broad-based rally on Friday with both the Nifty 50 and Sensex posting their best day in four months.

Sentiment in domestic stocks is also being helped by a rise in global stocks after the US services sector showed steady growth in February, pointing to an economic expansion in the first quarter of 2023.

Asian markets rose on Monday, with MSCI’s broadest index of Asia-Pacific shares outside Japan adding 0.71%.

Among individual stocks, Mahanagar Gas rose about 5% after the company bought Unison Enviro for Rs 5.31 billion.

Kansai Nerolac rose more than 2% after it approved the acquisition of 40% of the common stock of Nerofix from Polygel for Rs 370 crore.

(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)

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Sensex opens 500 points higher as Adani shares advance

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