Sensex, Nifty rise in early trade on Reliance buying, foreign inflows

Benchmark indices Sensex and Nifty opened higher on Thursday, supported by gains in Reliance Industries and foreign institutional inflows. A firm trend in Asian markets also lifted investor sentiment. FIIs were net buyers, infusing Rs 1,076 crore into domestic equities.

Mumbai: Benchmark equity indices Sensex and Nifty rallied in early trade on Thursday driven by buying in blue-chip stock Reliance Industries and fresh foreign fund inflows.

Moreover, a largely firm trend in Asian markets also added to the positivity in domestic equities, analysts said.

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The 30-share BSE Sensex climbed 197.83 points to 81,196.08 in opening trade. The NSE Nifty went up by 71 points to 24,691.20.

From the Sensex firms, Eternal, Power Grid, Reliance Industries, Sun Pharm, Mahindra & Mahindra, HCL Tech, Adani Ports and NTPC were among the biggest winners.

Bajaj Finance, Bajaj Finserv, Nestle and Hindustan Unilever were among the laggards.

Foreign Institutional Investors (FIIs) turned buyers on Wednesday. They bought equities worth Rs 1,076.18 crore, according to exchange data.

In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng were trading in the positive territory while Japan’s Nikkei 225 index quoted lower.

US markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude dipped 0.12 per cent to USD 64.78 a barrel.

On Wednesday, the 30-share BSE Sensex climbed 260.74 points or 0.32 per cent to settle at 80,998.25. The Nifty went up 77.70 points or 0.32 per cent to 24,620.20.