Sensex jumps over 200 points in early trade

sensex jumps over 200 points in early trade

MUMBAI: Equity benchmark sensex jumped over 200 points in the opening session on Wednesday tracking gains in index majors Reliance Industries, HDFC Bank and Axis Bank, despite weak trend in global markets. The 30-share BSE index was trading 207 points or 0.42 per cent higher at 49,958.41. Similarly, the broader NSE Nifty was quoting 69.35 points or 0.47 per cent up at 14,777.15. Axis Bank was the top gainer in the sensex pack, rising around 2 per cent, followed by Bajaj Finance, SBI, Reliance Industries, ONGC and UltraTech Cement. On the other hand, TCS, PowerGrid, Infosys, HUL and Tech Mahindra were among the laggards. In the previous session, sensex ended 7.09 points or 0.01 per cent higher at 49,751.41, and Nifty settled 32.10 points or 0.22 per cent up at 14,707.80. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,569.04 crore on Tuesday, as per exchange data. Domestic equities look to be good at the moment despite mixed cues from Asian markets, said Binod Modi Head-Strategy at Reliance Securities. “FIIs turning net sellers for last two days can be a reason to worry in the near term. However, we continue to believe that FIIs flow should be favourable in the medium to long-term perspective as underlying strength of Indian equities remains intact,” he added…

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