Markets climb in early trade on buying in IT stocks, fresh foreign fund inflows

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Benchmark equity indices climbed in early trade on January 5, extending their previous day’s rally, amid fresh foreign fund inflows and buying in IT stocks.

The 30-share BSE Sensex jumped 308.91 points to 72,156.48 in early trade. The Nifty climbed 91 points to 21,749.60.

Among the Sensex firms, Wipro, NTPC, Tech Mahindra, Infosys, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services and HCL Technologies were the major gainers.

Nestle India, IndusInd Bank, HDFC Bank, Kotak Mahindra Bank and Asian Paints were the laggards.

On January 4, the BSE benchmark jumped 490.97 points or 0.69% to settle at 71,847.57 and the Nifty climbed 141.25 points or 0.66% to 21,658.60.

In Asian markets, Tokyo traded in the positive territory while Seoul, Shanghai and Hong Kong quoted lower.

The U.S. markets ended mostly lower on January 4.

Meanwhile, global oil benchmark Brent crude climbed 0.39% to $77.89 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,513.41 crore on January 4, according to exchange data.