Markets continue to rally on positive global trends

Tech Mahindra, ICICI Bank, Titan, Mahindra & Mahindra and Sun Pharma were the other major gainers.

November 03, 2023 10:53 am | Updated 10:53 am IST - Mumbai

Equity benchmark indices jumped in early trade on Friday in line with positive trend in global markets.

Equity benchmark indices jumped in early trade on Friday in line with positive trend in global markets.

Equity benchmark indices jumped in early trade on Friday in line with positive trend in global markets.

The 30-share BSE Sensex jumped 414.06 points to 64,494.96 in early trade, extending its previous day's rally. The Nifty climbed 125.5 points to 19,258.75.

Among the Sensex firms, Tata Motors traded over 2 per cent higher after the company on Thursday reported a consolidated net profit of ₹3,783 crore for the September quarter, riding on robust performance by its British arm Jaguar Land Rover.

Tech Mahindra, ICICI Bank, Titan, Mahindra & Mahindra and Sun Pharma were the other major gainers.

Tata Steel, NTPC, Asian Paints and Kotak Mahindra Bank were the major laggards.

In Asian markets, Seoul, Shanghai and Hong Kong were trading with gains.

The U.S. markets ended with significant gains on Thursday.

"The Fed decision to hold rates and refrain from making hawkish indications has emboldened the bulls to make a strong comeback in the mother market U.S. with S&P rising 1.9 per cent yesterday," said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.14 per cent to $86.97 a barrel.

Foreign Institutional Investors (FIIs) continued to be net sellers in the capital markets as they offloaded equities worth ₹1,261.19 crore on Thursday, according to exchange data.

The BSE benchmark jumped 489.57 points or 0.77 per cent to settle at 64,080.90 on Thursday. The Nifty climbed 144.10 points or 0.76 per cent to 19,133.25.

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