Sensex, Nifty climb in early trade in global markets

New Delhi: Equity benchmark indices rebounded in early trade on Monday after tumbling in the previous week amid a rally in global markets, along with buying in index majors ITC and ICICI Bank.

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The BSE Sensex climbed 292.29 points or 0.36 percent to 81,980.74 in early trade. The NSE Nifty went up by 54.55 points or 0.22 percent to 25,069.15.

From the 30 Sensex firms, ITC, Kotak Mahindra Bank, HCL Technologies, Infosys, ICICI Bank, Tata Consultancy Services and Bharti Airtel were the major gainers.

Titan, Adani Ports, NTPC, Power Grid and HDFC Bank were among the laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,896.95 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 8,905.08 crore, according to exchange data.

"Globally stock markets have been resilient despite the escalating tensions in the Middle East. A big positive for equity markets is the strong US economy where the September non-farm job numbers have come surprisingly robust," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

The combination of a strong economy and declining inflation in the mother market of the US is a big positive, he added.

On Friday, the BSE Sensex tumbled 808.65 points or 0.98 per cent to settle at a three-week low of 81,688.45, while NSE Nifty slumped 235.50 points or 0.93 percent to 25,014.60.

Last week, the BSE Sensex tanked 3,883.4 points, or 4.53 percent, and the Nifty slumped 1,164.35 points, or 4.44 percent.

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