Markets rise in early trade as a result of foreign capital inflows and purchases of IT equities

In early trade on Wednesday, equity benchmark indices rose on continued foreign fund inflows and buying in heavyweight IT firms, Reliance Industries, and HDFC Bank.

After a solid start to the day, the 30-share BSE Sensex surged 305.44 points to 66,479.64 in early trade. The Nifty advanced 103 points to 19,992.70.

Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank, and Reliance Industries were the top gainers on the Sensex.

The laggards were Power Grid and NTPC.

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

Tuesday’s US stock market closed modestly higher.

Brent crude lost 0.2 percent to USD 81.66 a barrel.

According to data exchange, Foreign Institutional Investors (FIIs) purchased securities worth Rs 783.82 crore on Tuesday.

On Tuesday, the BSE benchmark rose 204.16 points, or 0.31 percent, to 66,174.20. The Nifty increased by 95 points, or 0.48 percent, to 19,889.70.

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