Mumbai: The market’s benchmark, Sensex, rose more than 150 points in early trading on Thursday, following the increase in index benefits HDFC twins, ITC and Bajaj Finance, amid largely positive indications from Asian peers.
The BSE index of 30 stocks traded 174.54 points or 0.36 percent higher at 48,852.09 in initial trades.
Similarly, the broader NSE Nifty advanced by 69.05 points or 0.47 percent to 14,666.90.
Bajaj Auto was the best gain in the Sensex package, with more than 2 percent, followed by Bajaj Finance, ITC, HDFC, Titan, Maruti and M&M.
On the other hand, HCL Tech, Sun Pharma, Bharti Airtel and PowerGrid were among the underprivileged.
In the previous session, Sensex jumped 424.04 points or 0.88 percent to close at 48,677.55, while Nifty rose 121.35 points or 0.84 percent to 14,617.85.
Foreign institutional investors (FIIs) were net sellers in the capital market as they traded down shares worth 1,110.50 million on Wednesday, while local institutional investors (DIIs) bought shares worth 240.61 million, according to preliminary exchange data.
The trend of positive news alternating with negative news continues, says UK Vijayakumar, chief investment strategist at Geojit Financial Services.
‘US President Joe Biden’s decision to relinquish intellectual property rights to vaccines is very positive. This will speed up the vaccination process so that countries like India can get out of the pandemic faster. But data on daily infections point to an increase, albeit slight, after five days of deterioration. “Lockouts and restrictions on mobility are also increasing, which is affecting the economic recovery,” he noted.
Elsewhere in Asia, the stock market in Hong Kong, Tokyo and Seoul traded on a positive note in mid-session transactions, while Shanghai was in the red position.
Shares on Wall Street ended in a mixed manner in overnight trading.
Meanwhile, Brent crude’s international oil benchmark traded 0.10 percent higher at USD 69.03 a barrel.
Source: Telangana Today