Markets Surge For 2nd Day In A Row On Buying In State Bank of India And Reliance

Equity benchmark indices rose in early trade on Wednesday, driven by buying in shares of State Bank of India and Reliance Industries, as well as strong trends in the US markets.

Fresh foreign capital inflows contributed to the strong momentum in markets.

In early trade, the 30-share BSE Sensex soared 373.12 points to 72,559.21, extending its gain from the previous day. The Nifty advanced 123.9 points to 22,053.30.

State Bank of India, Axis Bank, JSW Steel, Tata Steel, Titan, Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv, Sun Pharma, and Reliance Industries were the top gainers.

Among the laggards were HCL Technologies, Infosys, Power Grid, Wipro, Tech Mahindra, and ICICI Bank.

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

Brent crude gained 0.20 percent to USD 78.75 per barrel.

The US markets closed higher on Tuesday.

According to the exchange data, Foreign Institutional Investors (FIIs) acquired securities worth Rs 92.52 crore on Tuesday.

On Tuesday, the Sensex surged 454.67 points or 0.63 percent to 72,186.09, while the Nifty moved 157.70 points or 0.72 percent to 21,929.40.

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