Sensex up over 700 points in early deals, Nifty over 8,500-mark ahead of F&O expiry
The topline equity indices on the BSE and the National Stock Exchange (NSE) started on a positive note on Thursday and were trading over 2 per cent higher in the early morning deals ahead of the expiry of March-series futures and options (F&O) contracts later in the day.
At 9:36 am, the S&P BSE Sensex was trading at 29,253.88, up 718.10 points (2.52 per cent), while the Nifty 50 index was up 196.25 points (2.36 per cent) at 8,514.10. Both these indices had opened over 1 per cent higher today.
On the Sensex, gains were being led by IndusInd Bank, Axis Bank, Infosys and Tech Mahindra. On the other hand, Maruti Suzuki India, Oil and Natural Gas Corporation (ONGC) and State Bank of India (SBI) were among the top losers during the early trade on Thursday.
Among the sectoral indices, the Nifty Bank index was trading over 2.5 per cent higher in the early deals led by gains in IndusInd Bank, Bandhan Bank and Axis Bank. This apart, the Nifty IT index was up over 3.5 per cent led by NIIT Technologies, Infosys and Tech Mahindra.
Rupee rose 4 paise to 75.90 against US dollar in early trade on Thursday, according to an update by news agency PTI.
In the global markets, a two-day equities rally lost momentum on Thursday, and investors sold riskier currencies, as stimulus negotiations dragged on in Washington and investors fretted over a likely spike in US jobless claims.
MSCI's broadest index of Asia-Pacific shares outside Japan wobbled either side of flat. Japan's Nikkei slumped 4 per cent and US stock futures fell 1 per cent.
(Inputs and image from theindianexpress.com)