Markets

Sensex jumps over 200 points in early trade; Nifty tests 10,750

Equity benchmark Sensex jumped over 200 points in early trade on Thursday tracking gains in financial stocks amid positive cues from global markets.

After touching a high of 36,541.53 in opening session, the 30-share index was trading 190.57 points, or 0.52%, higher at 36,519.58. The NSE Nifty was up 54.70 points, or 0.51%, at 10,760.45.

Tata Steel was the top gainer in the Sensex pack, rising around 2%, followed by IndusInd Bank, Bajaj Finance, ICICI Bank, M&M, SBI and Axis Bank.

On the other hand, Maruti, Reliance Industries, TCS and Titan were among the laggards.

In the previous session, the BSE barometer ended 345.51 points, or 0.95%, lower at 36,329.01, and the broader Nifty shed 93.90 points, or 0.87%, to close at 10,705.75.

Foreign institutional investors were net sellers in the capital market on Wednesday, offloading equities worth ₹994.87 crore, provisional exchange data showed.

According to traders, market participants followed optimism in global equities, shrugging off concerns over rising number of COVID-19 cases and its impact on economic recovery.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains.

Stock exchanges on Wall Street too ended on a positive note in overnight session.

Meanwhile, international oil benchmark Brent crude futures slipped 0.05% to USD 43.27 per barrel.

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Printable version | Aug 7, 2020 10:38:48 AM | https://www.thehindu.com/business/markets/sensex-jumps-over-200-pts-in-early-trade-nifty-tests-10750/article32027892.ece

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