Sensex, Nifty open higher; Tata shares in spotlight after Ratan Tata's death

The S&P BSE Sensex added 110.95 points to 81,578.05, while the NSE NIfty50 gained 19.80 points to 25,001.75.

Benchmark stock market indices opened on a positive note on Thursday, following gains in Asian markets. This came after the minutes from the latest Federal Reserve policy meeting boosted expectations of further US rate cuts, which may lead to increased foreign investments in emerging markets.

The S&P BSE Sensex added 110.95 points to 81,578.05, while the NSE NIfty50 gained 19.80 points to 25,001.75 as of 9:55 AM.

"The Indian equity markets experienced a decent uptick in buying activity, driven by stabilised global developments and a positive outlook from the previous trading session. However, in the second half, the momentum fizzled out, and the benchmark index once again faced a strong bout of sell-off from intraday highs and slipped below the psychological mark. Eventually, the index settled slightly below the 25000 mark, albeit on a subdued note," said Sameet Chavan, Head Research, Technical and Derivative - Angel One.

All eyes will be on the shares of the Tata Group as Ratan Tata died on Wednesday, aged 86, in Mumbai. He had been undergoing treatment for prolonged illness at Mumbai’s Breach Candy Hospital for the last few days.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said that investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.

"Ratan Tata, while pursuing the group’s growth, contributed substantially to India’s growth and millions of ordinary investors gained from the great man’s vision. Also, investors should learn from the growth of the Tata empire that a long-term investment horizon is required to really participate in the wealth creation that happens through the capital market. In a bull market like the present one, there will always be valuation concerns. But great companies like the ones Ratan Tata built will create wealth for investors in the long run," he added.