Nifty tops 10,500: Sensex rallies over 300 pts in early trade

Mumbai (Bombay): Market benchmark Sensex rose over 300 points in early trade on Thu. tracking advances in global equities as positive(+ve) macroeconomic statistics flow & hopes of a Corona vaccine boosted investor feeling.

After touching a high of 35,724.32, the 30-share index has been trading 249.01 points, (or) 0.70 percent, higher in 35,663.46, awhile the NSE Nifty rose 76.50 points, (or) 0.73 percent, to 10,506.55.

ONGC has been the top gainer within the Sensex pack, surging about four percent, succeeded by Mandamp;M, IndusInd Bank, HDFC Bank, SBI & Titan.

On the different hand, Tech Mahindra & HUL have been the laggards.

Within the recent session, the BSE barometer settled 498.65 points, (or) 1.43 percent, higher in 35,414.45, & the broader Nifty surged 127.95 points, (or) 1.24 percent, to close in 10,430.05.

Foreign institutional investors have been net sellers on Wed., offloading equities value INR 1,696.45 cr, provisional exchange statistics demonstrated.

As per traders, national indices followed gains in global benchmarks amidst positive factory output statistics across economies.

Furthermore, hopes for a vaccine strengthened after Germany’s BioNTech & US pharmaceutical giant Pfizer recorded positive preliminary results from a joint project.

Bourses in Shanghai, Hong Kong, Tokyo & Seoul have been trading with substantial gains.

Stock exchanges on Wall Street too stopped on a positive(+ve) note in overnight session.

Intl. oil benchmark Brent crude futures rose 0.12 percent to USD 42.08 per barrel.