Markets trade higher amid positive global trends

A view of the BSE building in Mumbai
| Photo Credit: PAUL NORONHA

Equity benchmarks began the trade on a positive note on Thursday, bouncing back from previous session’s decline, amid firm global market trends.

The 30-share BSE benchmark Sensex climbed 397.14 points to 61,464.38 in early trade. The broader NSE Nifty advanced 119.65 points to 18,318.75.

From the Sensex pack, Sun Pharma, HCL Technologies, Infosys, Bharti Airtel, Kotak Mahindra Bank, Wipro, Bajaj Finance, ITC and UltraTech Cement were the major winners.

IndusInd Bank, Tata Motors, Bajaj Finserv, Axis Bank, Tata Steel, Larsen & Toubro, Mahindra & Mahindra, NTPC and State Bank of India were among the laggards.

Elsewhere in Asia, equity markets in Seoul, Tokyo Shanghai and Hong Kong were trading in the green.

The U.S. markets had ended higher on Wednesday.

“Investors need to be careful of the sharp intra-day volatility seen in the last few sessions due to growing uncertainty over rising COVID cases in China and recessionary fears in key economies,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.

The BSE benchmark tumbled 635.05 points or 1.03 per cent to settle at 61,067.24 on Wednesday. The Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10.

International oil benchmark Brent crude climbed 0.50 per cent to $82.61 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth ₹1,119.11 crore on Wednesday, according to exchange data.

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