The Indian equity market opened higher on Thursday following gains in the global peers as the US government's multi-trillion-dollar infrastructure investment plan boosted sentiment.

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At 9:15 am, the Sensex opened 0.73 percent, or 359.38 points higher at 49,868.53, while the Nifty50 index opened at 14,798.40, up 107.70 points, or 0.73 percent. Midcap and smallcap indices also traded higher.

US President Joe Biden on Wednesday outlined a USD 2.3 trillion plan to re-engineer the nation's infrastructure over the next eight years in what he billed as a once-in-a-generation investment in America.

On the domestic front, barring Nifty Realty, gains were witnessed across the board led by metal, bank and auto sectors.

On the Nifty50, HCL Technologies, Tata Steel, Bajaj Auto, Adani Ports & SEZ and Tata Motors were the top gainers, while Nestle India, Divi's Laboratories and ONGC were the only ones to trade in the red.

Shares of Likhitha Infrastructure jumped over 6 percent after the company said it received orders worth Rs 200.22 crore from various oil & gas distribution companies during the March quarter of 2021.

Globally, stocks crept higher on Thursday following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a $2 trillion US government spending plan and hoped for strong jobs data later in the week, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent after a modest drop on Wednesday.

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