Sensex, Nifty rise in early trade amid rise in global markets
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Mumbai Domestic equities surged in early trade on Thursday amid a rally in global markets amid indications of three rate cuts by the US Federal Reserve this year. BSE’s 30-share index Sensex jumped 595.02 points to 72,696.71 points in early trade. National Stock Exchange (NSE) index Nifty also rose by 181.85 points to reach 22,020.95 points. Among Sensex companies, shares of Tata Steel, JSW Steel, IndusInd Bank, Power Grid, Wipro and NTPC were among the gainers. Whereas shares of Maruti Suzuki and Nestle remained in loss.
In Asian markets, South Korea, Japan and Hong Kong were trading with huge gains, while China’s market was trading with a decline. American stock markets closed with gains on Wall Street on Wednesday. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 2,599.19 crore on Wednesday. Global oil benchmark Brent crude rose 0.61 percent to US$86.47 per barrel. On Wednesday, Sensex closed at 72,101.69 points with a gain of 89.64 points and Nifty closed at 21,839.10 points with a gain of 21.65 points.
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