Divis Labs Shares Down 0.29% as Sensex Rises

Indian shares opened higher on Thursday, tracking overnight gains in global markets, but gains were capped as investors remained cautious ahead of key economic data due later in the day.

The benchmark BSE Sensex rose 0.38% to 61,328.47, while the broader NSE Nifty added 0.42% to 18,274.95.

Among the top gainers on the Sensex were HDFC Bank, up 1.55%, and Reliance Industries, up 1.18%. The top losers were Divis Laboratories, down 0.29%, and Titan Company, down 0.26%.

In the broader market, the BSE Midcap index rose 0.45% and the BSE Smallcap index gained 0.52%. On the NSE, the Nifty Midcap 100 index rose 0.48% and the Nifty Smallcap 100 index gained 0.62%.

Sectoral indices were mixed, with the Nifty IT index rising 1.02% and the Nifty Consumer Durables index gaining 0.83%. The Nifty Metal index fell 0.52% and the Nifty PSU Bank index lost 0.46%.

Overall, the market sentiment was positive, but investors remained cautious ahead of the release of key economic data later in the day. The data includes the gross domestic product (GDP) growth rate for the January-March quarter and the consumer price index (CPI) inflation rate for April.

Analysts expect the GDP growth rate to have moderated in the January-March quarter, due to the impact of the third wave of the COVID-19 pandemic. The CPI inflation rate is also expected to have risen in April, due to higher fuel and food prices.

The release of this data is likely to have a significant impact on the market sentiment and could lead to volatility in the coming days.