Sensex spurts over 390 points in early trade on wide-spread buying

MUMBAI; Equity benchmark Sensex rebounded over 390 points to surpass the 49,900-level in opening deals on Thursday, supported by across-the-board buying by participants amid positive global cues.

Starting off on a positive note, the 30-share index swung 434 points on the higher side before easing some gains.

It was quoted higher by 391.14 points or 0.79 per cent at 49,900.29. Likewise, the NSE Nifty advanced by 113.55 points or 0.77 per cent at 14,804.25.

On the Sensex chart, HCL Tech emerged as the top gainer with over 2.61 per cent rise, followed by Titan, IndusInd Bank, NTPC, Bajaj Auto and NTPC.

Barring Nestle, ITC, HDFC Bank and HUL, all shares traded in the green. On Wednesday, the Sensex had ended lower by 627.43 points or 1.25 per cent at 49,509.15; while the broader NSE Nifty slumped 154.40 points or 1.04 per cent to close at 14,690.70.

Meanwhile, the global oil benchmark Brent crude was trading 0.93 per cent lower at USD 62.98 per barrel. Elsewhere in Asia, bourses were trading with gains as the announcement of the US infrastructure stimulus plan boosted investor sentiment globally.

Foreign investors offloaded equities worth Rs 1,685.91 crore in the Indian markets on Wednesday, exchange data showed.