In early trade, Sensex rises by 164 points and Nifty surges to 17,651
Press Releases India
Equity benchmark indices opened higher on Monday, buoyed by the strong trend in other Asian markets and continuous foreign fund inflows. The 30-share BSE Sensex rose by 164.79 points to reach 59,997.76 in early trade, while the broader NSE Nifty surged by 52.55 points to 17,651.70.
Several stocks on the Sensex gained significantly, with Tata Motors leading the pack, surging over 7{d45fc742923eebfe26e4deba489da153ed89935f6d8e3452400d44e38a2d1bf3}. Other major gainers included Titan, Larsen & Toubro, NTPC, Mahindra & Mahindra, Wipro, Power Grid, Tata Steel, ICICI Bank, Tata Consultancy Services, HCL Technologies, and Infosys. However, Asian Paints, Maruti, Bajaj Finance, and IndusInd Bank were among the laggards.
In the Asian markets, Seoul, Japan, and Hong Kong were trading positively, while Shanghai quoted lower. The US markets also ended in the positive territory on Thursday, and the stock market was closed on April 7 for Good Friday.
According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “It appears that the market is bracing for a rally. The major positive is that FIIs have turned buyers having bought equity for Rs 4,740 crore during the last 6 trading sessions.”
On Thursday, the Sensex rose by 143.66 points or 0.24{d45fc742923eebfe26e4deba489da153ed89935f6d8e3452400d44e38a2d1bf3}, settling at 59,832.97, while the Nifty gained 42.10 points or 0.24{d45fc742923eebfe26e4deba489da153ed89935f6d8e3452400d44e38a2d1bf3}, finishing at 17,599.15.
Foreign Portfolio Investors (FPIs) bought equities worth Rs 475.81 crore on Thursday, according to exchange data. Meanwhile, global oil benchmark Brent crude dipped by 0.19{d45fc742923eebfe26e4deba489da153ed89935f6d8e3452400d44e38a2d1bf3} to USD 84.96 per barrel.
Overall, the positive trend in other Asian markets, continuous foreign fund inflows, and the anticipation of a rally in the market have helped the Indian equity market open on a positive note.
