sensex nifty
Investors in India hoped that the government’s corporate tax cut last month would give fillip to companies’ September-quarter earnings.Reuters

Healthy inflow of Foreign Institutional Investment and supportive global markets aided the Indian market to start in the green on Thursday, October 17.

The broader NSE Nifty traded 6 points higher at 11,470.05, while the benchmark BSE Sensex opened at 38,647.44, higher from its previous close of 38,598.99.

"Going ahead we expect the broader market would witness catch up exercise and outperform the benchmarks in coming sessions, as Nifty has already rallied (400 points) over past six session," said ICICI Securities as quoted by news agency IANS.

However, growth worries continue to cap gains. IMF had cut India's GDP growth estimate for India to 6.1 per cent from 7 per cent projected earlier.

Meanwhile, investors in India hoped that the government's corporate tax cut last month would give a fillip to companies' September-quarter earnings.

"The calm on the global side due to the mid-term resolution between the United States and China and better results will drive markets," said Rusmik Oza, head of fundamental research at Kotak Securities.