Markets continue to rally on positive global trends

The 30-share BSE Sensex jumped 414.06 points to 64,494.96 in early trade, extending its previous day's rally. The Nifty climbed 125.5 points to 19,258.75.

Mumbai: Equity benchmark indices jumped in early trade on Friday in line with positive trend in global markets.

The 30-share BSE Sensex jumped 414.06 points to 64,494.96 in early trade, extending its previous day’s rally. The Nifty climbed 125.5 points to 19,258.75.

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Among the Sensex firms, Tata Motors traded over 2 per cent higher after the company on Thursday reported a consolidated net profit of Rs 3,783 crore for the September quarter, riding on robust performance by its British arm Jaguar Land Rover.

Tech Mahindra, ICICI Bank, Titan, Mahindra & Mahindra and Sun Pharma were the other major gainers.

Tata Steel, NTPC, Asian Paints and Kotak Mahindra Bank were the major laggards.

In Asian markets, Seoul, Shanghai and Hong Kong were trading with gains.

The US markets ended with significant gains on Thursday.

“The Fed decision to hold rates and refrain from making hawkish indications has emboldened the bulls to make a strong comeback in the mother market US with S&P rising 1.9 per cent yesterday,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.14 per cent to USD 86.97 a barrel.

Foreign Institutional Investors (FIIs) continued to be net sellers in the capital markets as they offloaded equities worth Rs 1,261.19 crore on Thursday, according to exchange data.

The BSE benchmark jumped 489.57 points or 0.77 per cent to settle at 64,080.90 on Thursday. The Nifty climbed 144.10 points or 0.76 per cent to 19,133.25.