Stock Market Updates: Sensex up 400 points, Nifty above 16,550; Cadila Healthcare zooms 5%

Indian benchmark indices opened higher amid positive global cues. At 09:20 hours, the 30-share BSE index was trading 405 points or 0.73 per cent higher at 55,713.43, and the broader NSE Nifty was up 107 points or 0.65 per cent to 16,557.90.

Tata Steel and HCL Tech were the top gainers in the Sensex pack, advancing over 2 per cent, followed by SBI, L&T, Bajaj Finance, Tech Mahindra and Bajaj Finserv.

On the other hand, Power Grid and HUL and were among the losers.

On August 20, the benchmark indices closed lower for the second straight session, tracking a heavy sell-off in global markets. Sensex ended 300 points lower at 55,329 and Nifty lost 118 points to 16,450.

Foreign institutional investors (FIIs) sold shares worth Rs 2,287 crore on August 20 and DIIs lapped up shares worth Rs 119.3 crore, as per provisional data available on NSE.