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 351.21 points to 73338.20. Meanwhile, the Nifty was also up by 118.70 points to 22,310.20.
Among the Sensex components, Bharti Airtel, Infosys, Tech Mahindra, HCL Technologies, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the major gainers. Maruti, Tata Motors, Power Grid and Larsen & Toubro were among the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains. Wall Street ended higher on Wednesday. Global oil benchmark Brent crude climbed 0.40 per cent to USD 83.08 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,832.83 crore on Wednesday, according to exchange data.
Rupee against dollar
Meanwhile, the rupee opened on a flat note against the US dollar in early trade on Thursday, as the support from positive domestic equities was negated by sustained foreign fund outflows and elevated crude oil prices. Forex traders said the rupee remains under pressure due to ongoing elections as well as foreign fund outflows and the same shall subside once the results are out.
At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.45 against the American currency and touched 83.46. On Wednesday, the rupee had settled at 83.46 against the US dollar.
(With PTI inputs)