Sensex jumps 320 points, Nifty rises by 98 points in early trade

Indian equity indices began trading on a bullish tone on Tuesday, extending their preceding day’s gain in line with the strength in most of the Asian markets and purchasing in index heavyweight Reliance Industries.

In early trade, the Sensex gained 320.69 points to 59,566.67. The Nifty rose 98.85 points to 17,764.65.

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Power Grid, NTPC, Bharti Airtel, Reliance Industries, Titan, Maruti, HDFC Bank, Hindustan Unilever, and Bajaj Finance were among the Sensex pack’s early gainers.

Laggards included Kotak Mahindra Bank, Nestle, Tech Mahindra, Wipro, Sun Pharma, Tata Consultancy Services, HCL Technologies, and Bajaj Finserv.

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Delta Corp is the stock/security that has been placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Tuesday, September 6, 2022.

Asian markets are trading mostly in green with Nikkei 225 rising 13.44 points or 0.05% to 27,633.05, Straits Times gaining 7.00 points or 0.22% to 3,222.48, KOSPI added 1.05 points or 0.04% to 2,404.73, Jakarta Composite advanced 7.18 points or 0.10% to 7,239.06 and Shanghai Composite was up by 32.33 points or 1.01% to 3,232.24. On the other hand, Hang Seng slipped 106.95 points or 0.56% to 19,118.75 and Taiwan Weighted was down by 19.82 points or 0.14% to 14,641.28.

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The US markets were closed on Monday.

On Monday, the Sensex jumped 442.65 points, or 0.75%, to 59,245.98. The Nifty rose 126.35 points, or 0.72%, to 17,665.80.

“The resilience of the domestic market even in the context of strong global headwinds is a bit surprising. Clearly, India is outperforming the rest of the world,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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The foreign institutional investors (FIIs) sold shares worth a net Rs 811.75 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 533.77 crore in the Indian equity market on September 5, as per provisional data available on the NSE.

Separately, Brent crude, the international oil benchmark, fell 0.77% to USD 95 a barrel. The rupee fell 12 paise to 79.90 against the dollar in early trade on Tuesday, driven down by the US currency’s surge in the international market.