Equities Trade Firm On Buying In Reliance And TCS

Equity benchmark indices rallied in early trade on Friday, boosted by buying in Reliance Industries, Tata Consultancy Services, and ICICI Bank, as well as relatively robust Asian markets.

After a flat start, the 30-share BSE Sensex advanced 122.61 points to 71,551.04 in early trade. The Nifty jumped by 45.45 points to 21,763.40.

Reliance Industries, Wipro, State Bank of India, Tata Consultancy Services, Bajaj Finance, Axis Bank, ICICI Bank, and Tech Mahindra were among the Sensex’s top gainers.

The laggards were Bharti Airtel, Maruti, Mahindra & Mahindra, Infosys, HDFC Bank, and Kotak Mahindra Bank.

In Asian markets, Tokyo and Shanghai were trading higher, while Hong Kong traded down.

On Thursday, the US markets closed higher.

Brent crude gained 0.09 percent to USD 81.70 per barrel.

According to exchange data, Foreign institutional investors (FIIs) sold equities worth Rs 4,933.78 crore on Thursday.

The BSE benchmark slid 723.57 points, or one percent, to end at 71,428.43 on Thursday, amid uncertainty regarding the timing of interest rate cuts following the Reserve Bank of India’s monetary policy announcement. The Nifty sank by 212.55 points, or 0.97 percent, to 21,717.95.

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