Markets trade firm in early trade amid rally in global equities

The 30-share BSE benchmark jumped 542.18 points to 56,358.50. The broader NSE Nifty advanced 147.45 points to 16,789.25.

Published: 28th July 2022 10:24 AM  |   Last Updated: 28th July 2022 10:24 AM   |  A+A-


Image used for representational purpose. (File | Reuters)


MUMBAI: Benchmark indices started the trade on a firm note on Thursday with the Sensex climbing over 542 points tracking a rally in the global equity markets.

The 30-share BSE benchmark jumped 542.18 points to 56,358.50.

The broader NSE Nifty advanced 147.45 points to 16,789.25.

Among the Sensex constituents, Bajaj Finance, Bajaj Finserv, IndusInd Bank, Tata Steel, Infosys, Wipro, Tech Mahindra and Kotak Mahindra Bank were the major gainers in early trade.

Dr Reddy's, Sun Pharma, Bharti Airtel and UltraTech Cement were among the laggards.

In Asia, markets in Seoul, Shanghai and Tokyo were trading higher, while Hong Kong quoted lower.

The US markets had ended sharply higher on Wednesday.

"Even after the 75 bps (basis points) consecutive rate hike by the Fed and indication that another unusually large increase would be appropriate in the next meeting, the US markets staged a smart bounce back with S&P 500 and Nasdaq rising by 2.62 per cent and 4.06 per cent, respectively," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Siddarth Bhamre, Head of Research, Religare Broking Limited, said, the hike of 75 bps was already discounted by markets but it's the guidance which cheered the US markets which closed higher.

The BSE benchmark had jumped 547.83 points or 0.99 per cent to settle at 55,816.32 on Wednesday.

The Nifty had advanced 157.95 points or 0.96 per cent to 16,641.80.

Meanwhile, international oil benchmark Brent crude climbed 1.20 per cent to USD 107.90 per barrel.

Foreign institutional investors offloaded shares worth Rs 436.81 crore on Wednesday, as per exchange data.

"On the domestic front, the monthly F&O expiry today could keep the markets volatile," Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd, said.

Follow The New Indian Express channel on WhatsApp


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp