Indian benchmark indices are likely to open higher on October 16, tracking GIFT Nifty, which was trading with a gain of 85 points at around 23,073.50 in early trade.
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Indian equity benchmarks rallied on Thursday, with the Nifty50 and Sensex climbing 1.5 percent each, supported by strong buying in auto, IT, private banks and Reliance Industries, after the Jio Platforms IPO announcement.
At close, the Sensex was up 1,533.72 points or 2.11 percent at 74,315.61, and the Nifty was up 374.65 points or 1.66 percent at 22,997.35.
The broader markets underperformed the benchmark indices, with the Nifty Midcap index declining 0.5 percent and the Nifty Smallcap index falling 1.3 percent.