MUMBAI: Equity benchmark Sensex jumped over 150 points in early trade on Wednesday tracking gains in index-heavyweight stocks like Reliance Industries, Bajaj Finance and TCS, amid largely positive trend in global markets and sustained foreign fund inflow.
After opening on a choppy note, the 30-share BSE index was trading 108.91 points or 0.21 per cent higher at 51,437.99. Similarly, the broader NSE Nifty advanced 39.45 points or 0.26 per cent to 15,148.75.
UltraTech Cement, Bajaj Finserv, Bajaj Auto, Bajaj Finance, HCL Tech and Reliance Industries were among the gainers in the Sensex pack, rising up to 2 per cent.
On the other hand, Bharti Airtel, Axis Bank, L&T, HDFC Bank and Infosys were among the laggards. In the previous session, Sensex ended 19.69 points or 0.04 per cent lower at 51,329.08, and Nifty slipped 6.50 points or 0.04 per cent to 15,109.30.
Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,300.65 crore on Tuesday, as per exchange data.
According to Binod Modi Head-Strategy at Reliance Securities, domestic equities look to be good at the moment. "A sharp recovery of FPIs flow post the announcement of Union Budget augured well for the markets." On the global front, US equities finished mostly lower after six consecutive sessions of gain.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul were trading with gains in mid-session deals, while Tokyo was in the red. Meanwhile, the global oil benchmark Brent crude was trading 0.28 per cent lower at USD 61.05 per barrel.