Early trade sees markets rise following Reliance purchases

In early trade on Wednesday, equity benchmark indices rose, helped by buying in index heavyweight Reliance Industries.

Gains were however limited due to continued foreign investment withdrawals from equities markets and mixed global market dynamics.

In early trade, the 30-share BSE Sensex surged 74.43 points to 66,005.20. The Nifty advanced 26.15 points to 19,809.55.

Power Grid, Titan, Sun Pharma, Reliance Industries, Hindustan Unilever, Asian Paints, Tata Motors, Tech Mahindra, Nestle, and ITC were the top gainers on the Sensex.

The major laggards were Kotak Mahindra Bank, ICICI Bank, IndusInd Bank, and JSW Steel.

In Asian markets, Tokyo was up, while Seoul, Shanghai, and Hong Kong were down.

On Tuesday, the US markets finished in the red.

Brent crude fell 0.16 percent to US$82.32 per barrel.

According to market statistics, foreign institutional investors (FIIs) sold securities worth Rs 455.59 crore on Tuesday.

On Tuesday, the BSE index jumped 275.62 points, or 0.42 percent, to 65,930.77. The Nifty advanced 89.40 points, or 0.45 percent, to 19,783.40.

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