Sensex jumps over 200 points in early trade
(Sourced from PTI)
Equity benchmark Sensex jumped over 200 points in early trade on Thursday, tracking gains in index majors Infosys, TCS, and HDFC Bank amid heavy foreign fund inflow. The 30-share BSE index was trading 216.23 points or 0.41 percent higher at 52,522.31 in initial deals. Similarly, the broader NSE Nifty advanced 59.95 points or 0.38 percent to 15,746.90.
TCS was the top gainer in the Sensex pack, rising over one percent, followed by Tata Steel, L&T, Infosys, UltraTech Cement, ICICI Bank, SBI, and Axis Bank. On the other hand, Titan, NTPC, Bajaj Auto, and Reliance Industries were among the laggards.
In the previous session, the 30-share BSE index, Sensex had ended 282.63 points or 0.54 percent lower at 52,306.08, while the broader NSE Nifty declined 85.80 points or 0.54 percent to 15,686.95. Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs. 3,156.53 crore on Wednesday, as per provisional exchange data.
According to Binod Modi Head of Strategy at Reliance Securities, domestic equities look to be modestly good as of now. The sharp contraction in daily caseload and ramp-up of vaccination programs offer comfort to the market. "We believe expectations of a sharp improvement in high-frequency key economic indicators supported by the ease in business curbs will offer support to corporate earnings," he added.
US equities traded sideways and ended mixed on Wednesday after two days of back-to-back gains. Elsewhere in Asia, bourses in Hong Kong, Seoul (South Korea), and Tokyo (Japan) were trading with gains in mid-session deals, while Shanghai (China) was in the red. Meanwhile, the international oil benchmark Brent crude was trading 0.12 percent higher at $75.28 per barrel.