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Key stock market indices rose in early trade on Wednesday as foreign capital continued to inflow and buying in IT stocks, Reliance Industries and HDFC Bank continued.
The 30-share BSE Sensex rose 305.44 points to 66,479.64 in early trade. The Nifty rose 103 points to 19,992.70.
Among Sensex companies, Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank and Reliance Industries were the major gainers.
Power Grid and NTPC lagged behind.
In Asian markets, Tokyo gained while Seoul, Shanghai and Hong Kong declined.
US markets closed with marginal gains on Tuesday.
“As the global market backdrop remains favourable, India’s rally is expected to continue. The fall in the US 10-year bond yield to 4.3 per cent and the dollar index falling below 103 are positive for equity markets.
“FIIs have turned buyers given the changed reality,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
Global oil benchmark Brent crude fell 0.02 per cent to $81.66 per barrel.
Foreign institutional investors (FIIs) bought shares worth Rs 783.82 crore on Tuesday, according to exchange data.
On Tuesday, the BSE Sensex rose 204.16 points, or 0.31 per cent, to close at 66,174.20. The Nifty rose 95 points, or 0.48 per cent, to 19,889.70.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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