Sensex surges over 600 points, Nifty rises by 190 points in early trade
- The Sensex rose 619.27 points to 57,477.06, Nifty gained 189.15 points to 17,118.75
- The rupee rose 30 paise to 79.39 against the US dollar
- Brent crude fell 0.2% to USD 107.12 per barrel
The Sensex climbed 619 points in early trade to reclaim the 57,000 mark as benchmark indices rallied for the third straight day on Friday.
The BSE Sensex rose 619.27 points to 57,477.06. The NSE Nifty gained 189.15 points to 17,118.75.
Tata Steel, Bajaj Finserv, Asian Paints, Bajaj Finance, Mahindra & Mahindra, NTPC, Maruti Suzuki, Infosys, Power Grid, and Kotak Mahindra Bank were the top gainers among Sensex participants during the early trading. The only laggards were Dr Reddy's and Sun Pharma.
On Thursday, the Sensex rose 1,041.47 points, or 1.87%, to 56,857.79. The Nifty rose 287.80 points, or 1.73%, to 16,929.60.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1637.69 crore, while domestic institutional investors (DIIs) purchased shares worth a net Rs 600.29 crore in the Indian equity market on July 28, as per provisional data available on the NSE.
Also Read| Stocks to watch on Friday, July 29, 2022
"In India, the big positive for the market is the FIIs reducing their selling substantially and even turning buyers for 8 days this month. The expected outperformance of financials has played out well. Q1 results indicate improving prospects for this segment," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Separately, the international oil benchmark Brent crude fell 0.2% to USD 107.12 per barrel. In early trade on Friday, the rupee rose 30 paise to 79.39 against the US dollar, driven by fresh foreign fund inflows into capital markets and a robust trend in domestic stocks