Stock exchanges – During the early trade on Wednesday, the equity benchmark Sensex surged over 200 points tracking gains in index-heavyweights Reliance Industries, HDFC, and ITC amid positive cues from global markets.
The 30-share index was trading 0.59 per cent or 205.60 points higher to 35,121.40 points, while the NSE Nifty increased by 0.50 per cent or 51.90 points to jump at 10,354 points.
The top gainer in the Sensex pack was ITC, surging around 2 per cent. The Sensex gainer list also included Axis Bank, HDFC, IndusInd Bank, followed by Bajaj Finance, SBI and Reliance Industries.
However, NTPC, Kotak Bank, L&T, ONGC, and Nestle India stood among the top laggards.
Stock exchanges In the last session, the BSE closed by 0.13 per cent or 45.72 points down at 34,915.80, while the NSE Nifty slipped down by 0.10 per cent or 10.30 points to close at 10,302.10.
Foreign institutional investors (FII) stood as the net sellers on Tuesday, offloading equities worth Rs 2,000.08 crore, as per the provisional exchange data.
As per the traders, local indices followed some gains in worldwide benchmarks which rallied on positive macroeconomic numbers showing a recovery in the global economy.
Traders further said auto sales data will also be closely observed by the participants to access the pace of recovery in the local economy.
Bourses in Hong Kong, Shanghai, and Seoul were trading with visible gains, while those in Tokyo were marking red.
Meanwhile, Stock exchanges on Wall Street rallied over 1 per cent in overnight session on positive macroeconomic data.
International oil benchmark Brent crude futures increased by 1.14 per cent and stood at USD 41.74 per barrel.
At the same time India recorded an increase of USD 0.6 billion or 0.1 per cent of GDP for the January-March quarter compared with a deficit of USD 4.6 billion or 0.7 per cent of GDP during the same period last, the Reserve Bank said on Tuesday.
Meanwhile, the fiscal deficit during the first two months of the current year increased by 58.6 per cent to Rs 4.66 lakh crore, indicating poor tax collection due to the coronavirus outbreak followed by the stringent lockdowns.