Mumbai, June 5
The domestic benchmark indices opened higher on Thursday amid mixed global cues, as buying was seen in the pharma, auto and IT sectors in the early trade.
At around 9.29 am, Sensex was trading 268.8 points or 0.33 per cent up at 81,267.09 while Nifty added 82.75 point or 0.34 per cent at 24,702.95.
Nifty Bank was down 29.70 points or 0.05 per cent at 55,647.15. The Nifty Midcap 100 index was trading at 58,188 after rising 263.35 points or 0.45 per cent. Nifty Smallcap 100 index was at 18,398.75 after climbing 141.65 points or 0.78 per cent.
According to analysts, the Nifty ended higher on Wednesday and the India VIX fell nearly 5 per cent, which bulls would have liked to see.
"For Nifty, 24,462 remains intact and that's keeping the optimism alive. Should this level break, the market will most likely drop to key support at 23,800. Short-term resistance sits between 24,760 and 24,882. Globally, stock bulls have tailwinds," said Akshay Chinchalkar, Head of Research, Axis Securities.
Meanwhile, in the Sensex pack, Eternal, PowerGrid, M&M, HDFC Bank, HCL Tech, TCS, IndusInd Bank and Kotak Mahindra Bank were the top gainers. Whereas Nestle India, Titan, Bajaj Finance, Tata Motors and Tech Mahindra were the top losers.
According to analysts, both geopolitical and economic news are likely to weigh on markets in the near-term.