The Indian equity benchmark indices opened higher on Thursday led by gains in metals and banking stocks amid strong global cues.

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At 9:15 am, the Sensex opened 0.23 percent, or 87.01 points, higher at 38,456.64, while the Nifty50 index opened at 11,334.85, up 26.45 points, or 0.23 percent.

Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 indices up 0.82 percent and 0.92 percent, respectively.

Among sectoral indices, the Nifty Metal index saw most gains, trading 1.8 percent higher followed by Nifty Media, Nifty IT, Nifty Financial Services and Nifty PSU Bank. Nifty Auto and Nifty FMCG were trading under pressure.

Hindalco Industries, JSW Steel, NTPC, TCS and Dr Reddy's Laboratories led the gains among Nifty50 constituents while Bharti Airtel, ITC, Hero MotoCorp, Bajaj Auto and Eicher Motors were the top losers.

Ashok Leyland stock price fell over 2 percent after the company reported a net loss of Rs 388.8 crore in Q1FY21 as against a profit of Rs 243 crore in the year-ago period. Revenue declined 88.5 percent to Rs 650.9 crore from Rs 5,684 crore, YoY.

Shares of Indiabulls Housing Finance gained over 3 percent after the company appointed former deputy RBI governor Subhash Sheoratan Mundra as its non-executive chairman with immediate effect.

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