Sensex and Nifty Surge in Early Market Trading: Sensex Up by 305 Points, Nifty by 103 Points

Stock market indices surged in the early hours of Wednesday due to continuous inflow of foreign funds, as well as strong buying in heavyweight IT shares, Reliance Industries, and HDFC Bank.

The 30-stock BSE Sensex rose by 305.44 points to 66,479.64 at the beginning of the trading day. The Nifty increased by 103 points to 19,992.70.

Leading the gainers on the Sensex were Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank, and Reliance Industries.

However, Power Grid and NTPC experienced losses.

In Asian markets, Tokyo saw gains, while Seoul, Shanghai, and Hong Kong saw declines.

The US markets closed slightly higher on Tuesday.

“With a positive global market scenario, the upward trend in India is expected to continue. The decrease in the US 10-year bond yield to 4.3 percent and the dollar index falling below 103 are favorable for the stock market.

“Foreign Institutional Investors (FIIs) have started buying in response to this new reality,” explained V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The global oil benchmark, Brent crude, dropped by 0.02 percent to USD 81.66 per barrel.

FIIs purchased equities worth Rs 783.82 crore on Tuesday, as per exchange data.

The BSE benchmark rose by 204.16 points or 0.31 percent to end at 66,174.20 on Tuesday. The Nifty also gained 95 points or 0.48 percent to reach 19,889.70.

(Apart from the title, this article has not been modified by NDTV staff and is sourced from a syndicated feed.)