Benchmark equity indices, the Sensex and Nifty50, recovered from opening lows on Thursday, in line with Asian peers as trade sentiment turned optimistic as countries ease lockdown norms amid the ongoing coronavirus pandemic.

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At 9:25 am, the 30-share benchmark S&P BSE Sensex gained 158.02 points, or 0.46 percent, to 34,267.56, while the broader 50-share NSE Nifty50 traded 40.85 points or 0.41 percent higher at 10,102.40. The Sensex opened 37.04 points, or 0.11 percent lower, at 34,072.50, while the Nifty opened at 10,054.25, down 7.30 points, or 0.07 percent.

Broader market indices outperformed their frontline peers with Nifty Smallcap100 and Nifty Midcap100 indices gaining over a percent each. Buying was witnessed across the sectors led by the Nifty PSU Bank, Nifty Pharma, Nifty Metal, Nifty IT and Nifty Auto.

Vedanta, UPL, Tata Motors, Tech Mahindra and GAIL India were leading among Nifty gainers, while Titan Company, Kotak Mahindra Bank, Bharti Infratel, IOCL and ONGC were among the top laggards.

Reliance Industries’ shares gained after the company’s Rs 53,124.20 crore rights issue was subscribed 1.59 times on the last day. The allotment of equity shares will happen on or about June 10, 2020.

Shares of HDFC Life Insurance Company added over 2 percent after its promoter HDFC Ltd sold 2.6 crore shares in the company at Rs 490.22 per share.

Shares of Aurobindo Pharma gained over 5 percent after the pharma company’s net profit in Q4FY20 rose 45.1 percent to Rs 849.83 crore versus Rs 585.38 crore. The company's revenue increased 16.4 percent to Rs 6,158.43 crore versus Rs 5,292.20 crore, YoY.

Meanwhile, India registered yet another sharp spike in the total number of coronavirus cases in the last 24 hours. The total confirmed cases on Thursday morning stands at 2,16,919, after rising by 9,304 cases in the last 24 hours. The death toll also rose by 260 to a total of 6,075 so far.

On the global front, Asian shares rose to a two-month high as government stimulus expectations supported investor confidence in economic recovery from the global coronavirus pandemic.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, earlier touching the highest since March 9.

(Disclosure:

Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

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First Published:Jun 4, 2020 9:49 AM IST