Indian Markets Open Higher; BSE Sensex Up 1.5%

Indian stock markets were trading higher on Thursday. The S&P BSE Sensex climbed 393.3 points, or 1.50 percent at 26630.22. The 30-share index touched a low of 26,357.35 in morning trade. The Nifty50 rose 1.37 percent to 8213.25, after touching a low of 8,151.75 in morning trade.

The S&P BSE Midcap Index gained 0.9 per cent, while the BSE S&P Smallcap Index climbed 0.9 per cent higher.

The Indian rupee climbed 17 paise to trade at 67.47 against the U.S. dollar on Thursday.

The Reserve Bank of India kept its policy rate unchanged on Wednesday.

Direxion Daily India Bull 2X Shares INDL rose 1.99 percent to close at $48.11 on Wednesday, while PowerShares India Portfolio (ETF) PIN gained 0.61 percent to close at $19.75.

US stock markets closed higher on Wednesday, with the Dow Jones Industrial Average gaining 1.55 percent, the S&P500 index rising 1.32 per cent, and the Nasdaq Composite gaining 1.14 percent.

US WTI crude futures on the NYMEX gained 0.24 percent to trade at $49.89 per barrel.

Top market movers among the BSE index are as follows

• Shree Rama Newsprint Ltd. shares gained around 20 percent to 35.10 INR.
• Banaras Beads Ltd. rose about 19 percent to 51.50 INR.
• Kalpa Commercial Ltd. rose 18 percent to 95.00 INR.
• Diligent Industries Ltd. shares surged 18 percent to 30.00 INR.

• Dollex Industries Ltd. shares dropped around 17 percent to 3.00 INR.
• Chandra Prabhu International Ltd. tumbled 11 percent to 17.05 INR.
• Indian Infotech & Software Ltd. fell around 11 percent to 0.17 INR.
• Bronze Trading Ltd. shares declined 10 percent to 40.70 INR.