Sensex climbs 640 points; Nifty tops 22,300-level in early trade

From the Sensex basket, UltraTech Cement, Axis Bank, Bajaj Finance, Larsen & Toubro, Tata Steel and Tata Motors were the major gainers

Updated - April 22, 2024 10:18 am IST

Published - April 22, 2024 10:17 am IST - Mumbai

File image.

File image. | Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty climbed in early trade on April 22 amid a rally in Asian markets, decline in Brent crude oil prices and buying by foreign investors.

Extending its previous day's rebound, the 30-share BSE Sensex climbed 639.85 points to 73,728.18 in early trade. The NSE Nifty went up 190.1 points to 22,337.10.

From the Sensex basket, UltraTech Cement, Axis Bank, Bajaj Finance, Larsen & Toubro, Tata Steel and Tata Motors were the major gainers.

HDFC Bank, JSW Steel, Mahindra & Mahindra and ITC were the laggards.

In Asian markets, Seoul, Tokyo, and Hong Kong were trading in the positive territory while Shanghai quoted lower.

Wall Street ended on a mixed note on Friday.

Global oil benchmark Brent crude declined 0.74% to $86.64 a barrel.

"The biggest positive for the market in the near-term is that the feared escalation in the Israel-Iran tension is unlikely to happen. The decline in Brent crude from $90 to $87 is a confirmation of this expected de-escalation," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Foreign Institutional Investors (FIIs) turned buyers on Friday and they bought equities worth ₹129.39 crore, according to exchange data.

The BSE benchmark climbed 599.34 points or 0.83% to settle at 73,088.33 on Friday. The NSE Nifty jumped 151.15 points or 0.69% to 22,147.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.