Stock Market Today: Sensex, Nifty Open Higher As Hopes Of US-Iran Deal Boost Global Sentiment

The Indian equity market has opened on a positive note on Thursday, May 07, following the global market after a report that say that US-Iran deal will likely to be concluded soon.

The BSE Sensex was trading at 78,015.60, up 57 points or 0.07 per cent, while the NSE Nifty50 gained 17 points or 0.07 per cent to trade at 24,348.25 in early trade.

The Sensex opened at 78,339.24 and touched an intraday high of the same level before trimming gains. Meanwhile, the Nifty opened at 24,398.50 and hit a high of 24,423.35 during the opening session.

M&M, UltraTech Cement Top Gainers

Among the top gainers on the Sensex in early trade were M&M, UltraTech Cement, Eternal, Trent, and Bajaj Finance, rising up to 1 per cent and supporting the benchmark indices. IT major Infosys, Tata Steel, Bharti

Airtel, Maruti Suzuki, and SBI also traded in the green. On the downside, Hindustan Unilever, Adani Ports, Power Grid, BEL, HDFC Bank, and TCS were among the major laggards, falling up to 0.7 per cent.

Auto Stock Sector Top Performer

Among sectoral indices, auto stocks emerged as the top performers, with the Nifty Auto index gaining 0.78 per cent, supported by strength in select automobile counters. Metal and transportation indices also traded higher. On the other hand, FMCG, realty, private banks, and IT stocks remained under pressure in early trade. The Nifty FMCG index declined 0.57 per cent, while the Realty index fell 0.72 per cent. Analysts said investors are closely tracking global cues, crude oil prices, and ongoing earnings announcements for further market direction.