Opening bell: On strong global cues Nifty surges above 16,600

Domestic markets are currently trading in the green zone, owing to positive global cues.

Early in the session, important market benchmarks traded with robust gains, mirroring bullish global indications. The NSE's sectoral indices all ended the day in the green. On May 27, foreign portfolio investors (FPIs) sold shares worth Rs 1,943.10 crore in the Indian equities market, while domestic institutional investors (DIIs) were net purchasers worth Rs 2,727.47 crore. On the back of overnight favourable US cues, Asian markets stayed upbeat today. The Hang Seng (2.93%) led the index higher by over 3%. The spirit was maintained by Taiwan TSEC (+1.66%) and Nikkei (+0.59%). The auto, IT, and pharmaceutical sectoral indices all remained almost 1% higher. Oil & Gas has a bleak start to the day, with a slight decline, while all other indices are up.

At 9:40 AM, the Sensex has soared by 251 points and is trading at 55,714.88 levels. BSE MidCap also jumped by 363 points and is trading at 22,881.65 levels and SmallCap has too mounted by 418 points and is trading at 26,040.44 levels. The stocks trading in green on the BSE Sensex are Titan, HCL Technologies, Infosys, UltraTech Cement, Tech Mahindra, and Wipro.

The Nifty 50 index similarly opened on a positive note gaining 241 points and is now trading at 16,594.40 levels. Bank Nifty traded in green, up by 361 points at 35,975.10 levels. The gainers on Nifty 50 are Titan, Adani Ports, UPL, HCL Technologies, and UltraTech Cement.

On the Sensex, the outlook is positive as out of 2,967 stocks the number of stocks advanced are 2,219 and only 635 stocks have declined in the morning session. Whereas, there are 216 stocks locked up in the upper circuit and 133 stocks are locked in the lower circuit today, while 36 stocks are trading at a 52-week high and there are 32 stocks that are trading at a 52-week low.