The Indian equity benchmark indices opened on a strong note on Thursday following positive cues from global markets as most stocks opened in the green.

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At 9:15 am, the Sensex opened 0.85 percent or 500 points higher at 59,690. Nifty50 index opened higher at 17,794 -- up 148 points or 0.84 percent. The broader market indices were trading higher with both midcaps and small-caps surging over 1 percent.

Stocks leading the gains on the Nifty50 index were Titan, Tata Motors, IndusInd Bank, M&M, Eicher Motors. Each scrip gained over 1-8 percent. Leading the losses were ONGC, Coal India, Divi's Lab, and UPL. Among sectors on Nifty50, all the indices opened in the green.

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Globally, Asian shares rallied taking heart from a late recovery on Wall Street after US politicians appeared near to a temporary deal to avert a federal debt default and as Russia reassured Europe on gas supplies, calming volatile markets.

Oil prices also dropped back from multi-year highs hit a day earlier, having been a major contributor to this week's equities sell-off. Consequently, Treasury yields and major currencies steadied amid the calmer mood.

MSCI's broadest index of Asia-Pacific shares outside Japan rose over 1 percent in early trade, regaining ground lost in recent days to be little changed on the week. Japan stocks surged almost 1 percent.

US stock futures, the S&P 500 e-minis, gained nearly half a percent, bracing for a positive start. Overnight, Wall Street indices rose almost half a percent.

Spot gold was little changed, trading at $1,761.89 per ounce.

(With inputs from Reuters)

First Published:Oct 7, 2021 9:46 AM IST