The key Indian equity indices traded in the positive territory on Thursday morning with the BSE Sensex rising over 200 points.
IT stocks witnessed healthy buying so far, while heavy selling in oil and gas and power stocks capped the gains.
Around 10.07 a.m., Sensex was trading at 52,517.27, higher by 211.19 points or 0.40 percent from its previous close of 52,306.08.
It opened at 52,514.57 and has touched an intra-day high of 52,590.92 and a low of 52,385.05 points.
The Nifty50 on the National Stock Exchange was trading at 15,739.15, higher by 52.20 points or 0.33 percent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The Nifty has resistance around 15,900 and it is having trouble getting past that. If we manage to get conquer this level, we should be headed to 16,100.”
“A good support lies at 15,400 and as long as that holds on a closing basis, we are in bullish territory and traders should utilize drops or corrections to add long positions to their trading portfolios.”
The top gainers on the Sensex so far were Larsen & Toubro, Infosys, and Tata Steel, while the major losers were Power Grid, NTPC, and Reliance Industries.