Markets Climb In Early Trade On Positive Global Trends

The benchmark equity indices Sensex and Nifty climbed in early trade on Thursday, following retail inflation falling to a one-year low in May and positive global trends.

The BSE Sensex soared 302.92 points, or 0.39 percent to 76,909.49 in the early trade. The NSE Nifty moved 85.45 points, or 0.36 percent to 23,408.40.

According to the official data, retail inflation fell to a one-year low of 4.75 percent in May, owing to a small decline in food prices, and remained within the Reserve Bank’s comfort zone of less than 6 percent.

Cholamandalam Invest, Siemens, Divi’s Labs, HDFC Life Insurance, Power Finance Corp, ABB India, DLF,  LTIMindtree, SBI Cards, and Tech Mahindra were the top gainers.

Among the laggards were Marico, Dabur India, Hindustan Unilever, Interglobe Aviation, Tata Consumer, Godrej Consumer, Ambuja Cements, Eicher Motors, and Adani Power.

In Asian markets, Singapore, South Korea, Taiwan, Hong Kong, and Malaysia were trading higher, while Tokyo, Thailand, Indonesia, and Shanghai were trading lower.

US markets closed mostly with gains on Wednesday.

European stocks ended higher on Wednesday.

Brent crude lost 0.36 percent to USD 82.30 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 426.63 crore on Wednesday.

On Wednesday, the Sensex inched up 149.98 points, or 0.19 percent to 76,606.57, while the Nifty moved 58.10 points, or 0.24 percent to 23,322.95.

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