Benchmark indices continue rally from previous day; Sensex jumps above 296 points in early trading

Business

Benchmark equity indices opened on firm fundamentals on Friday, continuing the rally registered in previous trade, with the Sensex jumping above 296 points in early trade, supported by a firm trend in global markets.

The 30-part BSE benchmark traded 296.45 points higher to 57,817.51, while the NSE Nifty rose 99.3 points to 17,344.35.

Sun Pharma, Tata Steel, Dr. Reddy’s, IndusInd Bank, M&M, Kotak Mahindra Bank and ICICI Bank were among the early winners of the Sensex package.

In contrast, Axis Bank, Power Grid, ITC, Hindustan Unilever Limited and Nestlé were among the laggards.

Asian markets in Hong Kong, Shanghai and Seoul traded in the green during the session.

Stocks in the US closed with significant gains on Thursday.

The BSE benchmark was up 701.67 points, or 1.23%, to 57,521.06 on Thursday. The Nifty rose 206.65 points, or 1.21%, to 17,245.05.

Meanwhile, international oil benchmark Brent rose 0.2% to $107.80 a barrel.

Overseas institutional investors turned net buyers after their steady selling spree over the past few days, buying ₹743.22 crore of shares, according to stock market data on Thursday.

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