From the Sensex pack, Mahindra & Mahindra, HDFC, IndusInd Bank, Bajaj Finserv, HDFC Bank, Kotak Mahindra Bank, Bharti Airtel, Titan, UltraTech Cement and Bajaj Finance were the major gainers. For Representational purpose only
| Photo Credit: Special Arrangement
Equity benchmark indices jumped in early trade on May 29, with the Sensex reclaiming the crucial 63,000-mark, amid positive trends in the US markets and continuous foreign fund inflows.
Rallying for the third day running, the 30-share BSE Sensex jumped 507.22 points to 63,008.91 in early trade. The NSE Nifty climbed 141.85 points to 18,641.20.
From the Sensex pack, Mahindra & Mahindra, HDFC, IndusInd Bank, Bajaj Finserv, HDFC Bank, Kotak Mahindra Bank, Bharti Airtel, Titan, UltraTech Cement and Bajaj Finance were the major gainers.
Power Grid and HCL Technologies were the laggards.
In Asian markets, Tokyo and Shanghai were trading in the green, while Hong Kong quoted lower.
The US market ended with significant gains on May 26.
With days to spare before a potential first-ever government default, US President Joe Biden and House Speaker Kevin McCarthy reached final agreement May 28 on a deal to raise the nation’s debt ceiling and worked to ensure enough Republican and Democratic votes to pass the measure in the coming week.
“The ‘in principle’ deal on US debt ceiling is a near-term relief to stock markets and, therefore, can aid continuation of the ongoing rally which can take Nifty to new record highs,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Foreign Institutional Investors (FIIs) were net buyers on May 26 as they bought equities worth `350.15 crore, according to exchange data.
Meanwhile, global oil benchmark Brent crude jumped 0.71% to USD 77.50 a barrel.
The Sensex jumped 629.07 points or 1.02% to settle at 62,501.69 on May 26. The Nifty climbed 178.20 points or 0.97% to end at 18,499.35.
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