Sensex gains over 300 points in early trading; Handy approaching 17,700


Equity benchmark Sensex rose more than 300 points in early trading Thursday, tracking gains in banking, financial and metals stocks amid a solid trend in global markets.

The 30 Shares BSE Sensex climbed 305.74 points to 59,391.17 in early trading. Similarly, the broader NSE useful advanced 85.05 points to 17,690.

From the Sensex package, Tata Steel, National Bank of India, IndusInd Bank, Hindustan Unilevertitanium, Bajaj FinservBharti Airtel and Axis Bank were among the front runners.

HCL Technologies emerged as the lone straggler.

In Asia, the markets in Seoul, Tokyo and Shanghai were in the green mid-session.

Wall Street had finished higher on Wednesday.

The BSE benchmark climbed 54.13 points or 0.09 percent and stood at 59,085.43 on Wednesday. The Nifty rose 27.45 points or 0.16 percent to 17,604.95.

Meanwhile, the international oil benchmark Brent oil climbed 0.45 percent to $101.68 a barrel.

Foreign institutional investors (FIIs) bought shares worth Rs 23.19 crore on Wednesday, according to data from the exchange.

“The resilience of the Indian market, even in the midst of global volatility, can mainly be attributed to two factors: one, the strong growth momentum in the economy and two, the steady growth momentum in the economy. FII flows even when the dollar has risen,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.


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