Key Indian equity market indices open higher

Sensex gains 78 pts on Asian cues; Nifty tops 9300

Asian stocks rose early on Thursday, getting a lift from a record high close on MSCI's global stocks benchmark after strong gains in oil prices buoyed energy stocks globally.

The gauge had gained 389.37 points in previous three sessions to close at a record high of 30,248.17 in yesterday's session.

Both the indices also closed at record highs, with the Nifty ending the day at 9,422.40 points while Sensex ending at 30,366.43 points.

This is published unedited from the IANS feed. Also, the Nifty metal gained for third consecutive day.

Shanghai Composite Index, however, was down 0.25 per cent. "Emmanuel Macron's victory as France's next President helped gains on most of the Asian stocks, while European stocks were mixed". "Financial services stocks were also seen rallying reflecting markets' expectations for further strength in equities", said Anand James, Chief Market Strategist, Geojit Financial Services in a note.

The Indian rupee strengthened by 24-25 paise to 64.38 per USA dollar from its previous close of 64.62-63.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the equity benchmark indices traded with firm sentiments throughout the session tracking positive global cues and appreciation of the rupee against the U.S. dollar.

"But profit booking towards the end of session dragged the stocks off their session highs".

"IT sector stocks witnessed strong buying led by NIITtech and TechM".

Hindustan Unilever Ltd rose as much as 4.9 percent and was among the top percentage gainers on the NSE index while Dabur India Ltd and Nestle India Ltd gained between 2 percent and 4 percent respectively.

Sectorwise, the S&P BSE automobile index augmented by 333.39 points, followed by the FMCG index by 169.23 points and the healthcare index by 139.17 points. The BSE Small-Cap index fell 0.05 per cent. Major contributors to the key indices were Tata Steel, M&M, Lupin, ONGC, Cipla, Axis Bank, ITC Ltd, ICICI Bank, Sun Pharma, Adani Ports and SBI, gaining by up to 1.42 per cent.

The Sensex was up by 314.92 points or 1.05 percent at the Wednesday's closing.

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