Sensex jumps 250 points in early trade; Nifty tops 15,800
Equity benchmark Sensex jumped over 250 points and touched a record intra-day high of 52,578.07 in early trade on Friday, tracking gains in index-heavyweights Reliance Industries, Infosys, and HDFC Bank amid a positive trend in global equities. Sensex was later trading 241.05 points or 0.46 percent higher at 52,541.52 in initial deals. Similarly, Nifty advanced 72 points or 0.46 percent to 15,809.75.
Who were the top gainers or losers?
PowerGrid was the top gainer in the Sensex pack, rising around two percent, followed by Reliance Industries, ONGC, HCL Tech, Sun Pharma, Infosys, and HDFC twins. On the other hand, Bajaj Finserv, HUL, Bajaj Finance, Titan, and Tech Mahindra were the laggards.
Sensex ended 0.69 percent higher in the previous session
In the previous session, the 30-share BSE index, Sensex finished 358.83 points or 0.69 percent higher at 52,300.47, and the broader NSE Nifty climbed 102.40 points or 0.65 percent to end at 15,737.75. Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs. 1,329.70 crore on Thursday, as per provisional exchange data.
Investors are buoyed by lifting of restrictions: Experts
"Improving the business environment from the beginning of June, led by the phased withdrawal of business curbs by the states has lifted sentiments among investors," said Binod Modi Head-Strategy at Reliance Securities. High-frequency key economic indicators are likely to see remarkable improvement from the current month onward, which should sustain premium valuations of the market, he noted.
Brent crude was trading at $72.12 per barrel
Elsewhere in Asia, bourses in Hong Kong, Seoul (South Korea), and Tokyo (Japan) were trading on a positive note in mid-session deals, while Shanghai (China) was trading in the red amid positive global trends. US equities finished with gains in the overnight session. International oil benchmark Brent crude was trading 0.55 percent lower at $72.12 per barrel.