Muristek
Sensex surges nearly 850 points in early trade; Nifty breaches 17,000-level on global cues
Mumbai, March 17
Equity benchmark Sensex jumped nearly 850 points in opening trade on Thursday, following a strong rally in global equities after the US Fed raised interest rates.
Besides, fresh foreign fund inflows and softening crude oil prices also helped domestic equities, traders said.
The 30-share Sensex was trading 846.31 points or 1.49 per cent higher at 57,662.96, and the broader Nifty advanced 236.80 points or 1.39 per cent to 17,212.15.
All the constituents of the Sensex were in the green. HDFC was the top gainer in the Sensex pack, climbing 3.14 per cent, followed by Axis Bank, Asian Paints, Kotak Bank, IndusInd Bank, HDFC Bank, ICICI Bank and Bajaj Finance.
In the previous session, the 30-share index surged 1,039.80 points or 1.86 per cent to finish at 56,816.65. Likewise, the broader NSE Nifty jumped 312.35 points or 1.87 per cent to 16,975.35.
Bourses in Hong Kong, Seoul and Tokyo rallied in mid-session deals, while Shanghai was in the red.
Foreign institutional investors emerged as net buyers after they bought shares worth Rs 311.99 crore on Wednesday, as per exchange data.
Meanwhile, the Russian forces continued strikes against Ukraine on Wednesday, even as the two countries expressed optimism over efforts to negotiate a resolution to end the conflict.