Sensex jumps 640 points while Nifty around 15,750 in early trade

Key indices rose further on Friday, with the BSE Sensex rising 644 points in early trade, reflecting a strong trend in global markets.

In early trade, Sensex has risen 644.15 points to 52,909.87. The Nifty rose 192.6 points to 15,749.25.

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IndusInd Bank, Hindustan Unilever, Bharti Airtel, Reliance Industries, UltraTech Cement, Dr Reddy’s, ICICI Bank, and HDFC Bank were the top gainers on the Sensex.

Tech Mahindra, Asian Paints, and Maruti Suzuki India, on the other hand, were the laggards.

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Other Asian markets, including Tokyo, Seoul, Hong Kong, and Shanghai, were trading in the green in mid-session trades. On Thursday, the US markets finished higher.

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“While markets may move sideways in the near-to-medium term, the bears may take a temporary break after the recent sell-offs, with a sharp fall in WTI crude oil prices bolstering the sentiment,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

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On Thursday, the BSE Sensex rose 443.19 points, or 0.86%, to 52,265.72. The Nifty rose 143.35 points, or 0.93%, to 15,556.65.

According to exchange statistics, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Thursday, selling shares worth Rs 2,319.06 crore.

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Brent crude, the international standard for crude oil, fell 0.17% to USD 109.86 a barrel. The rupee opened 12 paise higher at 78.20 against the US dollar on Friday, recovering from a record low, mirroring a drop in crude oil prices.