Equity benchmark Sensex surged over 350 points in early trade on Thursday, tracking gains in index-heavyweights Reliance Industries, HDFC and Infosys amid a largely positive trend in global markets.
At 10.30 am, the 30-share BSE index was trading 270.7 points or 0.52 per cent higher at 52,120.18, and the broader NSE Nifty jumped 80.40 points or 0.52 per cent to 15,656.60.
Titan was the top gainer in the Sensex pack, rising over 4 per cent, followed by Reliance Industries, PowerGrid, Kotak Bank, HDFC, ONGC and Infosys.
On the other hand, NTPC, Bajaj Auto, IndusInd Bank, Nestle India, Dr Reddy’s, SBI and Sun Pharma were among the laggards.
In the previous session, Sensex ended 85.40 points or 0.16 per cent lower at 51,849.48, while Nifty inched up 1.35 points or 0.01 per cent to 15,576.20.
FIIs net buyers
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth ₹921.10 crore on Wednesday, as per provisional exchange data.
“Domestic equities look to be good as of now. Increased optimism about economic recovery with continuous fall in daily caseload in second COVID wave and improvement in recovery rates has already led domestic equities to new highs,” said Binod Modi, Head Strategy at Reliance Securities.
Further, the beginning of gradual withdrawal of restrictions by states, which hints at improvement in economic indicators from the current month, also lifted market mood, he added.