Equity benchmark indices rose in early trade on Wednesday amid buying in IT giants Reliance Industries and HDFC Bank as well as sustained foreign fund inflows.
After a positive start to the day, the 30-share BSE Sensex rose 305.44 points to 66,479.64 in early trade. Nifty rose 103 points to 19,992.70.
Among Sensex companies, Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank and Reliance Industries were the major gainers.
Power Grid and NTPC remained laggards.
In Asian markets, Tokyo led gains while Seoul, Shanghai and Hong Kong declined.
On Tuesday, American markets closed with slight gains.
“As the global market backdrop remains favourable, the uptrend in India is likely to continue. The fall in US 10-year bond yield to 4.3 per cent and dollar index falling below 103 is positive for equity markets.
“In view of the changed reality, FIIs have become buyers,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
Global oil benchmark Brent crude fell 0.02 per cent to US$81.66 per barrel.
According to exchange data, foreign institutional investors (FIIs) bought equities worth Rs 783.82 crore on Tuesday.
On Tuesday, the BSE benchmark closed 204.16 points or 0.31 per cent higher at 66,174.20. Nifty rose 95 points or 0.48 percent to 19,889.70.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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