The US markets ended marginally up on Tuesday.
Mumbai:
Stock market indices surged at the beginning of trading on Wednesday due to continuous inflow of foreign funds and buying in major IT stocks, Reliance Industries and HDFC Bank.
The 30-share BSE Sensex increased by 305.44 points to 66,479.64 in early trade. The Nifty also went up by 103 points to 19,992.70.
Key gainers among the Sensex firms included Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank and Reliance Industries. Power Grid and NTPC were the laggards.
In Asian markets, Tokyo saw gains while Seoul, Shanghai and Hong Kong experienced a decrease in trading.
The US markets ended slightly up on Tuesday.
“Since the global market backdrop continues to be favorable, the rally in India is expected to persist. The drop in US 10-year bond yield to 4.3 per cent and the dollar index dropping below 103 are positive for equity markets,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global oil benchmark Brent crude went down 0.02 per cent to USD 81.66 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 783.82 crore on Tuesday, according to exchange data.
The BSE benchmark climbed 204.16 points or 0.31 per cent to settle at 66,174.20 on Tuesday while the Nifty gained 95 points or 0.48 per cent to reach 19,889.70.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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