Markets rebound early in trade

(PTI) Benchmark indexes rose in early trading on Friday following a decline earlier in the day amid mixed global market developments.

The BSE Sensex climbed 342.07 points to 59,108.66 in the early trading. In the same way NSE Nifty also climbed. NSE Nifty advanced 101.05 points to 17,643.85.

The Sensex pack NTPC, ITC, Bajaj Finance, Kotak Mahindra Bank, Larsen & Toubro, Titan, Mahindra & Mahindra and Asian Paints were among the gains in the first trading session.

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Tata Steel, IndusInd Bank, Reliance Industries, HDFC, UltraTech Cement and Bajaj Finserv were among those that were lagging behind.

Otherwhere in Asia the markets of Seoul as well as Shanghai are trading up, whereas Tokyo as well as Hong Kong quoted lower in mid-session trades.

The US markets ended the day mostly higher on Thursday.

The BSE benchmark dropped 770.48 per cent or 1.29 percent to close in 58,766.59 in the early hours of Thursday. The Nifty fell 216.50 per cent or 1.22 percent to 17,542.80.

The benchmark oil price for the international market Brent crude rose 1.87 percent to the price of USD 94.09 each barrel.

Foreign institutions (FIIs) sold shares valued at the sum of Rs 2,290.31 billion on Thursday according to exchange information.

“Local benchmark indices are likely to log gains in early trades Friday amid mixed Asian market cues, and if global cues improve, there is a bright chance that Nifty could scale higher,” Prashanth Tapse, Research Analyst and Senior Vice President (Research), Mehta Equities Ltd declared in his pre-opening market comments.

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