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The Nifty Realty index closed 0.76 per cent down at 441.6.

At 9.22 am, the BSE Sensex was trading 310 points or 0.53 per cent higher at 58,660. Nifty50 was trading at 17,475, up 88 points or 0.5 per cent. The midcap and smallcap indices edged up to 0.80 per cent each.

On the upside, Nifty50 could face some resistance near 17,500-17,525 levels while on the downside support is placed at 17,200-17,000 levels, suggested experts.

In the spot market, the highest purity gold was sold at Rs 51,566 per 10 grams while silver was priced at Rs 57,309 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

The 10-year bond yield was trading at 7.2139%, as of 0338 GMT, after ending at 7.2416% on Wednesday. The benchmark Brent crude oil contract eased 3.7% on Wednesday on bets of weak fuel demand.

The Relative Strength Index of the stock stood at 51.88 on Thursday.

In terms of ownership by the number of shares or share by volume, LIC share went up marginally to 0.79 per cent as on June 30 from 0.78 per cent in the March quarter. This is based on the average of LIC holding as a percentage of total share capital across listed NSE companies, data showed.

JPMorgan maintained its overweight rating on Hindalco with a target price of Rs 565 which translates into an upside of over 36 per cent from Rs 414 recorded on August 3, 2022.

Inox Leisure Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 7384.39 Crore) operating in Media & Entertainment sector.

“At a time when inflation is already very high, a widening trade deficit and widening current account deficit means a weaker rupee and further pressure on inflation. The bigger worry from a weakening rupee is what it means in terms of imported inflation and overall inflation. I would not relax our guard on the external front; in fact, I would start to worry very seriously about it.”