Stock Market Today: Sensex Gains 250 Points, Nifty Above 17,450

The key benchmark indices opened in green on Thursday amid strong global cues. The Sensex was up 300 points to 58,676.8 levels while the Nifty50 opened over 50 points higher above 17,450 levels.

The broader markets were in green as well as Nifty MidCap 100 and Nifty SmallCap 100 gained up to 0.8 per cent.

Infosys, Tech Mahindra, Wipro, TCS, and HCL Tech were the major gainers on Sensex, with up to 2.3 per cent gains.

On the other hand, NTPC, SBI, Maruti, were among the losers, down up to 1.1 per cent.

Hindalco, Infosys, Shree Cements, UPL, IndusInd Bank, Ultratech Cement, TCS, Bajaj Finserv, Axis Bank were the top contributors to the benchmark indices.

Sector-wise, Nifty IT and Nifty Media led the gains while Nifty Realty was the laggard.

Earlier, Nifty futures on the Singapore Exchange traded 80 points, or 0.46 per cent, higher at 17,519.50, signaling that Dalal Street was headed for a positive start on Thursday.

Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signalling weak U.S. fuel demand.

Earlier, US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite.

Meanwhile, the rupee slumped by 7 paise to open at 79.25 against the US dollar on Thursday.