Sensex, Nifty climb in early trade in global markets

Mumbai : Equity indices surged in early trading on Monday following a decline in the previous week, as global markets rallied and investors purchased shares of major index companies ITC and ICICI Bank. In the early trading session, the BSE Sensex rose by 292.29 points or 0.36 percent to reach 81,980.74. The NSE Nifty increased by 54.55 points, equivalent to 0.22 pc, reaching 25,069.15. ITC, Kotak Mahindra Bank, HCL Technologies, Infosys, ICICI Bank, Tata Consultancy Services, and Bharti Airtel were the top performers among the 30 Sensex companies.s

Titan, Adani Ports, NTPC, Power Grid, and HDFC Bank were among the underperformers. Tokyo, Shanghai, Hong Kong, and Seoul saw gains in trading on Monday in Asian markets. The US markets closed in a positive territory on Friday. As per exchange data, Foreign Institutional Investors (FIIs) sold equities amounting to Rs 9,896.95 crore on Friday, whereas Domestic Institutional Investors (DIIs) purchased equities worth Rs 8,905.08 crore.

Despite the growing tensions in the Middle East, stock markets worldwide have remained strong. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated that the strong US economy, particularly the robust September non-farm job numbers, is a significant advantage for equity markets. He stated that the simultaneous presence of a robust economy and decreasing inflation in the US's parent market is very advantageous. The worldwide oil standard Brent crude dropped by 0.44 percent to USD 77.71 per barrel. On Friday, the BSE Sensex dropped by 808.65 points, equivalent to 0.98 percent, ending at a three-week low of 81,688.45. Similarly, the NSE Nifty fell by 235.50 points, or 0.93 percent, to 25,014.60. The previous week saw the BSE Sensex plummet by 3,883.4 points, equivalent to 4.53 percent, while the Nifty dropped by 1,164.35 points, or 4.44 percent.