Benchmark indices extend previous day rally; Sensex jumps over 296 points in early trade

Benchmark equity indices opened on a firm footing on Friday, extending the rally registered in the previous trade, with the Sensex jumping over 296 points in early trade buoyed by a firm trend in global markets.

The 30-share BSE benchmark was trading 296.45 points higher at 57,817.51, while the NSE Nifty jumped 99.3 points to 17,344.35.

Sun Pharma, Tata Steel, Dr. Reddy’s, IndusInd Bank, M&M, Kotak Mahindra Bank, and ICICI Bank were among the early gainers from the Sensex pack.

In contrast, Axis Bank, Power Grid, ITC, Hindustan Unilever Limited, and Nestle were among the laggards.

Asian markets in Hong Kong, Shanghai, and Seoul were trading in the green in mid-session deals.

Stocks in the US had ended with significant gains on Thursday.

The BSE benchmark had jumped 701.67 points or 1.23 percent to end at 57,521.06 on Thursday. The Nifty rallied 206.65 points or 1.21 percent to 17,245.05.

Meanwhile, international oil benchmark Brent crude gained 0.2 percent to USD 107.80 per barrel.

Foreign institutional investors turned net buyers after their continuous selling spree for the past many days, as they bought shares worth Rs 743.22 crore on Thursday, according to stock exchange data.