Sensex jumps over 200 points in early trade; Nifty tests 11,450

Stock brokers react at a brokerage firm in Mumbai. File photo   | Photo Credit: PTI

Domestic equity benchmark Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and persistent foreign fund inflows.

The BSE Sensex was trading 217.77 points or 0.57% higher at 38,746.09; while NSE Nifty was up 63.60 points or 0.56% at 11,448.95.

SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&T, M&M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto.

On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank and Infosys were among the laggards.

In the previous session, the Sensex had settled at 38,528.32, up 477.54 points or 1.26%, while the broader Nifty surged 138.25 points or 1.23% to end at 11,385.35.

Exchange data showed that foreign institutional investors bought equities worth ₹1,134.57 crore on a net basis on Tuesday.

According to traders, domestic bourses followed positive cues from U.S. equities which hit fresh records in overnight session, they said.

Stock exchanges on Wall Street ended with gains in overnight session as U.S. government stimulus packages to aid the economy began showing signs of growth.

Bourses in Tokyo and Seoul were trading on a positive note, while Shanghai was in the red.

Investors are also awaiting cues from the minutes of U.S. Federal Reserve’s meeting, scheduled to be released later in the day.

Global oil benchmark Brent crude was trading 0.66% lower at USD 45.16 per barrel.

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Printable version | Jan 17, 2021 10:07:13 PM |

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