Sensex, Nifty climb in early trade

The benchmark market indexes advanced in early trading on Thursday, rising for the fourth consecutive day amid fresh inflows of foreign funds and buying in the main index, Reliance Industries.

BSE Sensex, which includes 30 shares, rose 88.71 points to 60,389.29 points. The broader NSE Nifty advanced 19.40 points to 17,833 points.

Of the Sensex companies, Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv, IndusInd Bank, ITC, Reliance Industries, Larsen & Toubro and Mahindra & Mahindra were the main winners.

Power Grid, Tata Consulting Services, Wipro, AsianPaints, Hindustan Unilever and Access Bank were among the laggards.

In Asian markets, Seoul and Shanghai traded in the green, while Japan and Hong Kong posted declines.

Also read: The rupee rose 8 pounds to 81.66 against the US dollar in early trading

US markets closed mostly lower on Wednesday.

With the current month F&O expiring today approaching, caution may prevail. Recession fears have been seen re-emerging in the US amid renewed concerns about the broader impact of the latest banking crisis.

“Also, chances of rate hikes by the US Federal Reserve and major European countries are likely to keep rates going higher. However, positive catalysts such as Crude oil prices Below $80 a barrel and shifting foreign investment contracts into net buyers of domestic equities could cap the downside in the near term, said Prashanth Tapsi, Senior Vice President (Research) at Mehta Equities Limited.

the The BSE index rose 169.87 points Or 0.28 percent, to settle at 60,300.58 points on Wednesday.

the Nifty advanced 44.35 points or 0.25 percent, to close at 17,813.60 points.

Meanwhile, the global oil benchmark, Brent crude, rose 0.48 percent to $78.06 a barrel.

Foreign institutional investors (FIIs) turned buyers on Wednesday buying shares worth Rs 1,257.48 crore, according to exchange data.