Sensex rises 809 points in early trade; Nifty above 18,000

Wipro was the top gainer in the pack, rising 3.61%, followed by Tech Mahindra, Infosys, HCL Tech, IndusInd Bank, Tata Steel and TCS.

November 11, 2022 10:45 am | Updated 10:45 am IST - Mumbai

All the Sensex constituents were trading in the green in early trade. File 

All the Sensex constituents were trading in the green in early trade. File  | Photo Credit: The Hindu

Equity benchmark Sensex climbed 809.64 points in early trade on Friday, helped by heavy buying in IT counters amid a rally in global markets after encouraging US inflation data.

A strong rupee against major rivals and continuous buying by foreign funds added to the momentum, traders said.

The 30-share BSE index was trading 809.64 points or 1.34% higher at 61,423.34 in initial deals. Similarly, the broader NSE Nifty gained 239.70 points or 1.33% to 18,267.90.

All the Sensex constituents were trading in the green. Wipro was the top gainer in the pack, rising 3.61%, followed by Tech Mahindra, Infosys, HCL Tech, IndusInd Bank, Tata Steel and TCS.

In the previous session on Thursday, the 30-share BSE benchmark ended 419.85 points or 0.69% lower at 60,613.70. The broader NSE Nifty too fell 128.80 points or 0.71% to end at 18,028.20.

Financial markets rallied after the US consumer price index eased to 7.4% in October from 8.2% in September. Markets were on tenterhooks after the U.S. Federal Reserve indicated more interest rate tightening to fight inflation. The current US inflation data points to an early end of the interest rate hike cycle.

In Asian markets, bourses in Tokyo, Shanghai, Seoul and Hong Kong were trading with significant gains.

Equities on Wall Street ended sharply higher in the overnight session on Thursday.

The rupee appreciated 64 paise to ₹80.76 against the U.S. dollar in early trade on Friday.

Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Thursday, as they bought shares worth ₹36.06 crore, as per exchange data.

International oil benchmark Brent crude was trading 0.36% higher at $94.01 per barrel.

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