Nifty, Sensex rises in early trade on steady global trend

The 30-share BSE Sensex benchmark rose 325.59 points to 60,586.77 in early trade. (file)


Stock indices started trading positively on Monday amid strong trend in the global market and buying at IT counters.

The 30-share BSE Sensex benchmark rose 325.59 points to 60,586.77 in early trade. The broader NSE Nifty advanced 93.05 points to 18049.65.

From the Sensex package, Wipro, HCL Technologies, Bajaj Finance, Bajaj Finserv, UltraTech Cement, Infosys, Tata Consultancy Services, Kotak Mahindra Bank, Tech Mahindra and State Bank of India were among the major winners.

Wipro jumped 1 percent in early trade after reporting earnings for the December quarter in after-hours trading on Friday.

Wipro on Friday reported a better-than-expected 2.8 per cent increase in consolidated net profit for the December 2022 quarter to Rs.3,053 crore and expressed optimism about “strong” bookings for the fourth quarter despite global headwinds.

Mahindra & Mahindra, Tata Steel, NTPC, Maruti and Tata Motors were among the Sensex component laggards.

Elsewhere in Asia, stock markets in Seoul, Shanghai and Hong Kong were trading in the green, while Tokyo was in the red.

Markets in the US closed in positive territory on Friday.

Brent crude, the international benchmark for oil, fell 0.54 percent to 84.82 US dollars per barrel.

The Sensex index rose 303.15 points, or 0.51 percent, to settle at 60,261.18 points on Friday. The Nifty Index rose 98.40 points, or 0.55 percent, to close at 17,956.60.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,422.39 crore on Friday, according to exchange data.

(Except for the headline, this story was not edited by the Alendronaterx staff and was published from a syndicated feed.)

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