Equity indices on upswing, IT and auto stocks in focus

Equity benchmark indices were up by over half a per cent during early hours on Thursday as the new financial year began amid positive global cues. At 10:15 am, the BSE SandP Sensex was up by 270 points or 0.54 per cent at 49,779 while the Nifty 50 edged higher by 90 points or 0.62 per cent to 14,781. All sectoral indices at the National Stock Exchange were in the green with Nifty metal up by 1.6 per cent, IT by 1.2 per cent and auto by 1 per cent. Among stocks, JSW Steel gained by 4 per cent to Rs 487.30 per share while Hindalco added a gain of 2.1 per cent to Rs 333.85. Tata Steel was up by 1.6 per cent to Rs 825.10 per unit.