The 30-share benchmark index, BSE Sensex opened with a gain of 157.84 points or 0.27% at 58,881.04, while the broad based NSE Nifty started with a rise of 19.75 points or 0.11%, at 17,539.20.

At 10.21 a.m., the Sensex was trading up 174.28 points or 0.30% at 58,897.48 with 20 components gaining.  Meanwhile, the Nifty was trading higher by 42.55 points or 0.24% at 17,562 with 31 components gaining.  

Major gainers in the 30-share index were IndusInd Bank (7.99%), ITC (7.59%), Power Grid Corporation Of India  (1.43%), State Bank of India (1.25%), Bajaj Auto (1.22%),Kotak Mahindra Bank (0.51%), Larsen & Toubro (0.41%) and Asian Paints (0.33%).

On the other hand, Tech Mahindra (0.86%), TCS (0.83%), Titan (0.82%), Bajaj Finance (0.64%), Tata Steel (0.57%), Infosys (0.43%), HDFC (0.16%) and NTPC (0.16%) were the biggest losers in the Sensex.Market breadth was positive with 1,682 advances against 1,231 declines.

On global front, Asian stocks were steady early on Thursday amid a climb in energy shares and as some of the anxiety about the recovery from the pandemic eased and concern of poor economy data announced by China. Nikkei, Hong Kong, Taiwan Index declined 0.2% each.

US stocks rose the most in almost three weeks as the concern that has weighed on investor sentiment about a slowdown in economic growth eased. Energy shares helped push the Dow and S&P 500 0.8% each.  The tech-heavy Nasdaq 100 rose nearly 1% for the first time in more than a week.

European market declined concern of rising inflation, U.K. inflation soared to a nine-year high in August, with consumer prices rising 3.2% year-on-year after a 2% annual rise in July. UK, France and Germany Index declined half to one percent.

Oil jumped to the highest in six weeks amid signs of a rapidly tightening market after a U.S. government report showed a bigger-than-expected decline in crude stockpiles. Global benchmark Brent closed above USD 75 a barrel for the first time since July. US Dow Future is trading flat while SGX Nifty gained 0.1%.