Mumbai: The Sensex rose more than 300 points in early trade on Thursday, tracking advances in index heavyweights Infosys, HDFC, and ICICI Bank, as global markets improved.
In the first hour of trading, the 30-share index rose 305.15 points, or 0.54 percent, to 57,235.71. Likewise, the Nifty rose 88.25 points, or 0.52 percent, to 17,043.70.
Tata Steel was the Sensex pack’s top gainer, up over 2%, followed by Bajaj Finance, PowerGrid, M&M, NTPC, and ITC.
Bharti Airtel and Asian Paints, on the other hand, were among the laggards.
The 30-share equity benchmark increased 611.55 points, or 1.09 percent, to end at 56,930.56, while the Nifty advanced 184.60 points, or 1.10 percent, to 16,955.45.
According to stock exchange data, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Wednesday, selling shares worth Rs 827.26 crore.
Analysts believe that, despite concerns about COVID comeback and FII selling, domestic shares are tracking the upward trend in foreign markets.
In other Asian markets, bourses in Shanghai, Hong Kong, Tokyo, and Seoul were trading higher in mid-session deals.
In the overnight session, stock exchanges in the United States closed on a strong note.
Meanwhile, Brent crude, the worldwide oil standard, increased 0.16 percent to USD 75.40 per barrel.