Sensex rallies over 300 pts in early trade; Nifty tops 18,200

Sensex rallies over 300 pts in early trade; Nifty tops 18,200

Equity benchmark Sensex surged over 300 points in early trade on Tuesday tracking gains in index heavyweights Reliance Industries, HDFC Bank and Tech Mahindra amid strong quarterly earnings and a positive trend in global markets.

The 30-share index was trading 318.7 points or 0.52 per cent higher at 61,285.75 in initial deals. Similarly, the Nifty surged 93.75 points or 0.52 per cent to 18,219.15.

Tech Mahindra was the top gainer in the Sensex pack, rallying over 6 per cent, after the software exporter reported a 26 per cent increase in its September quarter net at Rs 1,338.7 crore.

Bharti Airtel, Bajaj Finance, Tata Steel, L&T, ITC and SBI were also trading with gains.

On the other hand, ICICI Bank, Axis Bank, PowerGrid, HUL and Dr Reddy’s were among the laggards.

In the previous session, the 30-share index ended 145.43 points or 0.24 per cent higher at 60,967.05, and Nifty advanced 10.50 points or 0.06 per cent to 18,125.40.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 2,459.10 crore on Monday, as per exchange data.