Image Source : PTI/REPRESENTATIVE Markets rebound in early trade on firm global equities
Stock markets: Equity benchmark indices rebounded in early trade on Friday amid positive global market trends and foreign fund inflows. The 30-share BSE Sensex jumped 280.62 points to 63,198.25 in early trade. The NSE Nifty climbed 82.8 points to 18,770.90.
From the Sensex pack, UltraTech Cement, State Bank of India, Nestle, ICICI Bank and Reliance Industries were the major gainers. Tata Consultancy Services, Wipro, Power Grid and Maruti were the biggest laggards.
In Asian markets, Seoul, Shanghai and Hong Kong traded in the green, while Tokyo quoted lower. The US markets ended significantly higher on Thursday. “FIIs turning net buyers to the tune of Rs 3,086 crore in yesterday’s trade may aid sentiment,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
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Global oil benchmark Brent crude slips
Global oil benchmark Brent crude dipped 0.25 per cent to USD 75.49 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 3,085.51 crore on Thursday, according to exchange data.
The Sensex had slipped 310.88 points or 0.49 per cent to settle at 62,917.63 on Thursday. The Nifty declined 67.80 points or 0.36 per cent to end at 18,688.10.
Rupee rises 30 paise against dollar
Meanwhile, the rupee rose by 30 paise to 81.95 against the US dollar in early trade on Friday amid gains in domestic equities and losses in crude oil prices. FII inflows into local equities also bolstered the rupee sentiment, analysts said. At the interbank foreign exchange, the domestic unit opened higher at 81.97, and then appreciated further to 81.95, registering a rise of 30 paise over its last close.
(With PTI inputs)
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