The benchmark Sensex stock index jumped more than 350 points early in Thursday, following the gains of index heavyweights Reliance Industries, HDFC and Infosys amid a largely positive trend in global markets.
At 10:30 a.m., the 30-stock BSE index was trading 270.7 points or 0.52% higher to 52,120.18, and the larger NSE Nifty index jumped 80.40 points or 0.52. % at 15,656.60.
Titan was the first winner of the Sensex pack, with an increase of over 4%, followed by Reliance Industries, PowerGrid, Kotak Bank, HDFC, ONGC and Infosys.
In contrast, NTPC, Bajaj Auto, IndusInd Bank, Nestlé India, Dr Reddy’s, SBI and Sun Pharma were among the laggards.
In the previous session, Sensex finished down 85.40 points or 0.16% to 51,849.48, while Nifty was up 1.35 points or 0.01% to 15,576.20.
Net FII buyers
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth 921.10 crore on Wednesday, according to provisional data from the exchanges.
“National actions look good at the moment. Increased optimism about the economic recovery with the continued decline in the number of daily cases during the second wave of COVID and improving recovery rates have already driven national actions to new heights, ”Binod Modi said, Head of Strategy at Reliance Securities.
In addition, the start of the gradual withdrawal of restrictions by states, which portends an improvement in economic indicators from the current month, also uplifted the mood of the market, he added.