Equity gauges trade higher, metal stocks gain

Equity markets maintained positive undertone during early hours on Thursday supported by the US Fed decision to keep policy loose and firm global markets cues.

At 10:15 am, the BSE SandP Sensex was up by 155 points or 0.31 per cent at 49,889 while the Nifty 50 edged higher by 56 points or 0.38 per cent to 14,920.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal up by 1.7 per cent and FMCG by 0.4 per cent.

But Nifty PSU bank, private bank, financial service and auto were in the red.

Metal stocks continued their upward trajectory with Tata Steel gaining by 4.5 per cent to Rs 1,015.45 per share while JSW Steel rose by 2.8 per cent to Rs 684.15 and Hindalco by 1.8 per cent to Rs 369.15.