HomeBusinessMarket rises in early trade

Market rises in early trade

Benchmark indices bounced back in early trade on September 15 after falling the previous day amid largely positive trend in global markets.

The 30-share Sensex rose 329.15 points to 60,676.12 in early trade. Nifty rose 92.4 points to reach 18,096.15.

From the Sensex pack, Maruti, ICICI Bank, NTPC, Larsen & Toubro, Kotak Mahindra Bank and Mahindra & Mahindra were among the major gainers in early trade.

IndusInd Bank, Tech Mahindra, Infosys and Tata Steel were among the laggards.

Asian markets were trading in the green in Tokyo, Hong Kong and Seoul, while Shanghai declined.

On Wednesday, the US markets closed with a positive trend.

The BSE benchmark had closed 224.11 points or 0.37% lower at 60,346.97 on Wednesday. The broader NSE Nifty closed 66.30 points or 0.37% lower at 18,003.75.

Meanwhile, international oil benchmark Brent crude fell 0.09% to $94.02 a barrel.

Foreign institutional investors pulled out Rs 1,397.51 crore from the domestic stock market on Wednesday.

Prashant Taapsee, Senior VP (Research), Mehta Equities Ltd, said following Wednesday’s return, local stocks in most Asian indices opened on a positive note tracking recovery after an overnight rally in US markets.

Intra-day, the market could be volatile as nervous themes may play out in the backdrop of the consensus that inflation is falling at a slower pace than expected, he said.

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