Equity benchmark indices rose in early trade on Wednesday amid continued foreign fund inflows and buying of heavyweight IT stocks Reliance Industries and HDFC Bank.
The 30-share BSE Sensex rose 305.44 points to 66,479.64 in early trade after starting the day on a positive note. The Nifty rose 103 points to 19,992.70.
Among the Sensex companies, Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank and Reliance Industries were the biggest gainers.
Power Grid and NTPC were the laggards.
In Asian markets, Tokyo was trading higher, while Seoul, Shanghai and Hong Kong were trading lower.
The American stock markets closed marginally higher on Tuesday.
“As the global market environment remains favorable, the rally in India is likely to continue. The drop in the US 10-year yield to 4.3 percent and the dollar index falling below 103 are positive for the stock markets.
“FIIs have become buyers responding to the changing reality,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The global oil benchmark for Brent crude fell 0.02 percent to $81.66 per barrel.
According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 783.82 crore on Tuesday.
The benchmark BSE rose 204.16 points or 0.31 percent to settle at 66,174.20 on Tuesday. The Nifty gained 95 points or 0.48 percent to 19,889.70.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
