Sensex reclaims 60k level in early trade; Nifty tests 17,900

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Image Source : FILE NSE Nifty went higher by 127.2 points to 17,925.95.

Highlights

  • The 30-share BSE Sensex climbed 431.58 points to 60,119.80 in early trade.
  • The US markets had ended higher on Thursday.
  • BSE benchmark climbed 659.31 points or 1.12 per cent to settle at 59,688.22.

Benchmark indices began the trade on a firm note on Friday, extending their previous day gain, amid foreign fund inflows and a positive trend in global markets. The 30-share BSE Sensex climbed 431.58 points to 60,119.80 in early trade. On similar lines, the broader NSE Nifty went higher by 127.2 points to 17,925.95.

From the Sensex pack of firms, IndusInd Bank, State Bank of India, Tata Steel, Hindustan Unilever, NTPC, Infosys, Dr Reddy’s, Sun Pharma and ICICI Bank emerged as the biggest gainers. Bharti Airtel, Bajaj Finserv, Nestle India and Bajaj Finance were among the laggards. Elsewhere in Asia, markets in Shanghai, Tokyo and Hong Kong were trading in the green in mid-session deals. The US markets had ended higher on Thursday. 

On Thursday, the BSE benchmark climbed 659.31 points or 1.12 per cent to settle at 59,688.22. The Nifty advanced 174.35 points or 0.99 per cent to 17,798.75. Meanwhile, the international oil benchmark Brent crude climbed 0.26 per cent to USD 89.38 per barrel. Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 2,913.09 crore on Thursday, as per exchange data. 

Local equity benchmark indices opened firm in tandem with the buoyancy seen in the Asian pack and overnight surge in the US markets,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd. “Positive catalysts such as plunging oil prices and easing US dollar index are likely to help maintain optimism,” Tapse said.

Also read: Rupee rises 8 paise to 79.61 against US dollar in early trade

Also read: Finance ministry to kick-start budgetary exercise from October 10

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