Sensex rallies 909 points, Nifty up by 257 points in early trade

Indian equity benchmarks made a gap-up opening on Friday
following firm global cues. Markets are trading higher with gains of around one
and a half percent each in early deals on account of heavy buying in all the
sector indices and encouraging US inflation data. A strong rupee against major
rivals and continuous buying by foreign funds added to the momentum, according to
traders.

The Sensex was trading 909.53 points or 1.50% higher at
61,519.89 in morning deals. Similarly, the Nifty gained 257.95 points or 1.43%
to 18,287.95.

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The broader indices were trading in green with the BSE
Midcap index rising by 0.64% and the Small cap index up by 0.49%. The top
gaining sectoral indices on the BSE were IT up by 3.87%, TECK up by 3.47%,
Realty up by 1.32%, Metal up by 1.23%, Consumer Durables up by 1.18%, while
there was no loser on the BSE sectoral front.

All the Sensex constituents were trading in the green.
Infosys was the top gainer in the pack, rising 4.20%, followed by Tech
Mahindra, Wipro, HCL Tech, IndusInd Bank, Tata Steel, and TCS.

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In the previous session on Thursday, the Sensex ended
419.85 points or 0.69% lower at 60,613.70. The Nifty fell 128.80 points or
0.71% to end at 18,028.20.

Financial markets surged after the US consumer price index
(CPI) eased to 7.7% in October from 8.2% in September. Markets were on
tenterhooks after the US Federal Reserve indicated more interest rate
tightening to fight inflation. The current US inflation data points to an early
end of the interest rate hike cycle.

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The rupee jumped 64 paise to 80.76 against the US dollar in
early trade on Friday.

Asian markets are trading in green with the Nikkei 225
surging 754.89 points or 2.75% to 28,200.99, Straits Times rising 48.09 points
or 1.52% to 3,221.27, Hang Seng jumping 866.92 points or 5.39% to 16,947.96,
Taiwan Weighted soaring 474.48 points or 3.51% to 13,978.24, KOSPI advancing
73.59 points or 3.06% to 2,475.82, Jakarta Composite adding 83.50 points or
1.20% to 7,050.34 and Shanghai Composite up by 45.72 points or 1.51% to
3,081.85.

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US equity markets ended sharply higher in the overnight
session on Thursday.

According to stock exchange data, foreign institutional
investors (FIIs) remained net buyers in the Indian capital market on Thursday,
as they bought shares worth Rs 36.06 crore.

Brent crude, the international oil benchmark was trading
0.36% higher at USD 94.01 per barrel.