Markets maintain winning momentum on firm global trends, foreign fund inflows

The 30-share BSE benchmark gained 362.13 points to 58,712.66.

PTIUpdated: Thursday, August 04, 2022, 10:21 AM IST
article-image
Sensex jumps 486 points in early trade amid firm global market trends | pexels

Mumbai: Equity benchmarks started the trade on a firm note on Thursday, with the Sensex climbing over 362 points, mirroring positive trend in global markets and foreign fund inflows.

Buying in IT counters also added to the momentum. The 30-share BSE benchmark gained 362.13 points to 58,712.66. The broader NSE Nifty went up by 102.55 points to 17,490.70.

Among the Sensex constituents, Infosys, Wipro, Tech Mahindra, Tata Consultancy Services, Dr Reddy's, Larsen & Toubro, HCL Technologies, Bajaj Finance and UltraTech Cement were the major gainers.

NTPC, State Bank of India, Maruti Suzuki India, Reliance Industries and Titan were among the laggards.

In Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading in the green.

The US markets had ended significantly higher on Wednesday.

The BSE benchmark ended 214.17 points or 0.37 per cent higher at 58,350.53 on Wednesday. The Nifty went up by 42.70 points or 0.25 per cent to 17,388.15.

Meanwhile, international oil benchmark Brent crude climbed 0.24 per cent to USD 97.02 per barrel.

Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 765.17 crore on Wednesday, as per exchange data.

"In India, FPIs turning buyers has changed the sentiments in favour of the bulls. The market momentum is so strong that it is overpowering negatives like higher valuations and rising trade deficit.

"If FPI buying sustains, the market may continue to remain resilient, but investors should exercise some caution," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

RECENT STORIES

CJI NV Ramana recommends justice UU Lalit as next Chief Justice Of India

CJI NV Ramana recommends justice UU Lalit as next Chief Justice Of India

Mumbai updates: Mumbaikars to get respite from heat; city, suburbs to see significant rainfall in...

Mumbai updates: Mumbaikars to get respite from heat; city, suburbs to see significant rainfall in...

Karnataka: Son abandons 80-year-old mother in temple

Karnataka: Son abandons 80-year-old mother in temple

Mumbai witnesses 1st death due to rain-related infection, leptospirosis claims life of 49-yr-old...

Mumbai witnesses 1st death due to rain-related infection, leptospirosis claims life of 49-yr-old...

Mumbai extortion case: CM Eknath Shinde reinstates suspended DCP Parag Manere

Mumbai extortion case: CM Eknath Shinde reinstates suspended DCP Parag Manere