Stock markets rally in early trade

The Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai.
| Photo Credit: REUTERS

Equity benchmark indices bounced back in early trade on Friday amid a rally in global markets and continuous foreign fund inflows.

The 30-share BSE Sensex climbed 135.43 points to 62,984.07 in early trade. The NSE Nifty advanced 42.1 points to 18,676.65.

From the Sensex pack, IndusInd Bank, Titan, Tata Motors, UltraTech Cement, Larsen & Toubro, Axis Bank, Bajaj Finance and Bharti Airtel were the biggest gainers.

Tata Steel, Mahindra & Mahindra, Infosys, State Bank of India and Kotak Mahindra Bank were among the laggards.

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

The U.S. markets ended in the positive territory on Thursday.

According to Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, intra-day volatility could persist as investors fear the Federal Reserve could remain hawkish at its June 14 meeting after a surprise interest rate hike by Bank of Canada.

Global oil benchmark Brent crude dipped 0.51% to $75.57 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹212.40 crore on Thursday, according to exchange data.

The Sensex fell 294.32 points or 0.47% to settle at 62,848.64 on Thursday. The NSE Nifty declined 91.85 points or 0.49% to end at 18,634.55.