Sensex jumps over 400 pts in early trade; Nifty tests 17,000

Stock exchanges in the US too ended on a positive note in the overnight session.

Mumbai: Equity benchmark Sensex surged over 400 points in early trade on Tuesday, tracking gains in index majors Reliance Industries, Kotak Bank and HDFC Bank amid a positive trend in global markets.

The 30-share index was trading 444.17 points or 0.78 per cent higher at 57,191.31 in initial deals. Similarly, the Nifty rose 131.60 points or 0.78 per cent to 17,043.85.

Tata Steel was the top gainer in the Sensex pack, rising over 2 per cent, followed by Kotak Bank, Axis Bank, Maruti, IndusInd Bank and SBI.

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On the other hand, Dr Reddy’s, Tech Mahindra, L&T, Bharti Airtel and HCL Tech were among the laggards.

In the previous session, the 30-share equity benchmark ended 949.32 points or 1.65 per cent lower at 56,747.14, and Nifty slumped 284.45 points or 1.65 per cent to 16,912.25.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 3,361.28 crore on Monday, as per exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.62 per cent to USD 73.53 per barrel.

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