Benchmark indices opened the day marginally higher, even as stocks in Asia-Pacific were mixed in Thursday morning trade, with Japan's exports surging in April.
Mainland Chinese stocks fell, with the Shanghai Composite down 0.31% while the Shenzhen component declined marginally. The Hong Kong's Hang Sang index was down 0.72% in trade.
Indian markets saw the Sensex trading with gains of around 100 points, while the Nifty moved higher by 30 points. Leading the set of gainers from the Nifty space were stocks like UPL, Titan, IOC and Larsen.
While stocks that dropped in trade included names like Hindalco, Tata Steel, JSW Steel, Axis Bank and Britannia Industries.
"Technically, Nifty has to hold above 14950-15000 zones to witness an up move towards 15200 then 15350 zones while on the downside support exists at 14900 and 14800 zones. India VIX moved up marginally by 0.40% from 19.24 to 19.31 levels. India VIX needs to hold below 20 zones to extend the bullish market momentum.
Going ahead, the market is likely to continue its positive trend as fresh daily covid cases decline and investors are upbeat on reopening of economic activity soon. However, record death numbers are alarming and would be tracked closely," says Sidhhartha Khemka Head - Retail Research, Motilal Oswal Financial Services.