Sensex rises over 150 factors in early commerce; Nifty tops 14,500

Mumbai, April 27

Equity benchmark Sensex advanced over 150 points in early trade on Tuesday, tracking gains in index majors Reliance Industries, HDFC Bank and TCS despite a negative trend in Asian markets.

The 30-share BSE index was trading 155.63 points or 0.32 per cent higher at 48,542.14.

Similarly, the broader NSE Nifty advanced 49.80 points or 0.34 per cent to 14,534.80.

Reliance Industries was the top gainer in the Sensex pack, rising around 2 per cent, followed by PowerGrid, Bajaj Finance, TCS, Bharti Airtel, Dr Reddy’s and HDFC Bank.

On the other hand, Axis Bank, Kotak Bank, HDFC, Tech Mahindra, Nestle India and HCL Tech were among the laggards.

In the previous session, Sensex ended 508.06 points or 1.06 per cent higher at 48,386.51, and Nifty jumped 143.65 points or 1 per cent to 14,485.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 1,111.89 crore on Monday, according to provisional exchange data.

Domestic equities rebounded mainly led by sharp recovery in financials, said Binod Modi, Head-Strategy at Reliance Securities.

Barring Pharma, most of the key sectoral indices traded in green in the morning session. Strong March quarter performance led ICICI Bank to recover sharply, while HCL Tech witnessed sell-off due to subdued 4Q performance.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading on a negative note in mid-session deals.

Bourses on Wall Street ended with gains in overnight sessions.

Meanwhile, international oil benchmark Brent crude was trading 0.55 per cent higher at USD 65.39 per barrel. PTI

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