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Stock markets update: Sensex surges 245 points, Nifty up by 78 points to 24,402 in early trade

In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.

Edited By: Anurag Roushan @Candid_Tilaiyan Mumbai Updated on: July 11, 2024 10:30 IST
Stock markets update
Image Source : PTI The image has been used for representative purposes only.

Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 245.32 points to 80,170.09. Meanwhile, the Nifty was also up by 78.2 points to 24,402.65.  

Major gainers and laggards

Among the Sensex pack, Tata Consultancy Services climbed over 1 per cent ahead of its quarterly earnings announcement later in the day. The other prominent gainers were HCL Technologies, Tata Motors, Tata Steel, Maruti, Infosys and State Bank of India. Power Grid, Nestle, Sun Pharma, HDFC Bank and Mahindra & Mahindra were among the laggards. 

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading higher. US markets ended significantly higher on Wednesday. Foreign Institutional Investors (FIIs) bought equities worth Rs 583.96 crore on Wednesday, according to exchange data. Global oil benchmark Brent crude climbed 0.76 per cent to USD 85.73 a barrel.

Rupee against dollar 

The rupee traded in a narrow range and appreciated 2 paise to 83.49 against the US dollar in early trade on Thursday, as a positive trend in domestic equities supported the local unit, while elevated crude oil prices weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.49, registering a rise of 2 paise from its previous close. On Wednesday, the rupee stayed range-bound and settled 2 paise lower at 83.51 against the US dollar. The Reserve Bank of India (RBI) appears determined to prevent the rupee from depreciating below 83.70, despite pressure from oil companies due to elevated oil prices, he added.

(With PTI inputs)

ALSO READ: Indian economy set for stable high growth amid Risks, says RBI's Shashanka Bhide

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