Equity benchmark Sensex jumped over 200 points in early trade on Friday, October 8, 2021, tracking gains in Infosys, Reliance Industries and TCS ahead of the Reserve Bank’s policy results.
The 30-share Sensex was trading at 59,901.62 with a gain of 223.79 points or 0.37 per cent. Similarly, the Nifty rose 77.75 points or 0.44 per cent to 17,868.10.
Tata Steel was the top gainer in the Sensex pack, rising over 3 per cent, followed by TCS, Dr Reddy’s, L&T, Infosys and M&M.
On the other hand, HUL, Asian Paints, HDFC, HCL Tech, SBI and Titan were the laggards.
In the previous session, the 30-share index ended 488.10 points or 0.82 per cent higher at 59,677.83, while the Nifty ended up 144.35 points or 0.82 per cent at 17,790.35.
FIIs sold shares worth over Rs 1,764.25 crore.
Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 1,764.25 crore on Thursday, according to exchange data.
Binod Modi, Head-Strategy, Reliance Securities, said, “Investors will be watching the outcome of the RBI’s monetary policy meeting later in the day, especially with regard to comments on inflation, economic growth and the possibility of fiscal tightening in the future.” In.”
Besides, festive demand, improving rural demand, COVID-19 positivity rate, vaccination ramp-up and September quarter earnings will be in focus in the near term, he said.
US equities extended gains for the third day in a row, mainly on positive developments in relation to debt limits.
Elsewhere in Asia, shares in Shanghai, Seoul and Tokyo were trading with gains in mid-session deals, while Hong Kong was in the red.
Meanwhile, international oil benchmark Brent crude rose 1.13 per cent to $82.88 per barrel.
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