Markets

Sensex rises over 120 point in early trade; Nifty tops 13,000

The 30-share BSE index was trading 126.62 points or 0.29% higher at 44,276.34.   | Photo Credit: PTI

Equity benchmark Sensex climbed over 120 points in opening trade on Tuesday, as better than expected GDP data strengthened market sentiment amid unabated foreign capital inflows.

The 30-share BSE index was trading 126.62 points or 0.29% higher at 44,276.34.

Similarly, the broader NSE Nifty rose 32.45 points or 0.25% to 13,001.40.

UltraTech Cement was the top gainer in the Sensex pack, rising about 2.5%, followed by Infosys, Sun Pharma, Bajaj Auto PowerGrid, ICICI Bank and IndusInd Bank.

On the other hand, ONGC, M&M, Nestle India, Axis Bank and HDFC were among the laggards.

In the previous session, Sensex ended 110.02 points or 0.25% lower at 44,149.72, and NSE Nifty slipped 18.05 points or 0.14% to 12,968.95.

Equity markets were closed on Monday for Guru Nanak Jayanti.

India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5%, official data showed on Friday.

Meanwhile, the output of eight core infrastructure sectors dropped by 2.5% in October, mainly due to decline in production of crude oil, natural gas, refinery products and steel.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth ₹7,712.98 crore on a net basis on Friday, according to provisional exchange data.

Elsewhere in Asia, bourses in Tokyo, Shanghai, Hong Kong and Seoul were trading with gains in mid-session deals.

Stock exchanges on Wall Street ended lower in overnight sessions.

Brent crude futures, the global oil benchmark fell 1.22% to $47.59 per barrel.

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Printable version | Jan 26, 2021 11:02:33 PM | https://www.thehindu.com/business/markets/sensex-rises-over-120-point-in-early-trade-nifty-tops-13000/article33219034.ece

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