Sensex jumps over 250 pts in early trade; Nifty above 14,200

Equity benchmark Sensex jumped over 250 points in early tre on Thursday, tracking gains in index majors Reliance Industries, HDFC and ICICI Bank amid positive trend in global equities. 30-share BSE index was tring 270.69 points or 0.56 per cent higher at 48,444.75, and broer NSE Nifty rose 80.95 points or 0.57 per cent to 14,227.20.

PowerGrid was top gainer in Sensex pack, rising around 2 per cent, followed by SBI, IndusInd Bank, L&T, Axis Bank, ONGC and Bajaj Finance. On or hand, Titan, TCS, HUL and Infosys were among laggards. In previous session, Sensex ended 263.72 points or 0.54 per cent lower at 48,174.06, and Nifty fell 53.25 points or 0.38 per cent to 14,146.25.

Foreign portfolio investors (FPIs) were net sellers in capital market as y offloed shares worth Rs 483.64 crore on a net basis on Wednesday, according to provisional exchange data. According to Bid Modi He-Strategy at Reliance Securities, domestic equities look to be firm at moment. tably, FPIs turned net sellers after a considerable gap, which suggests profit-booking or sector rotation given sharp returns generated by select sectors like IT, pharma and metals.

US equities witnessed sharp recovery mainly on increased prospects of higher fiscal stimulus and capital expenditures towards infrastructure developments as Democrats' control in both houses of Congress will help Biden to push his ndas, said Modi. "tably, yesterday's rebound clearly overlooked concerns of reversal of lower tax rates and disruption created by Trump's supporters in US Capitol where a joint session of Congress was convened to certify Biden's victory over Trump," he ded. Elsewhere in Asia, bourses in Shanghai, Tokyo and Seoul were tring on a positive te in mid-session deals, while Hong Kong was in red. Meanwhile, global oil benchmark, Brent crude, was tring 0.79 per cent higher at USD 54.73 per barrel. 

(Im Credits: PTI)