Sensex reclaims 80,000-level on global markets rally, foreign fund inflows

New Delhi: Equity benchmark indices Sensex and Nifty surged in early trade on Wednesday driven by a sharp rally in global markets and foreign fund inflows.

Buying in blue-chip IT stocks also added to investors' optimism.

From the Sensex firms, HCL Tech surged over 6 per cent after the firm posted an 8.1 per cent increase in consolidated net profit at Rs 4,307 crore for March quarter 2024-25, mainly on account of large deals with a total contract value of about Rs 25,500 crore.

Tech Mahindra, Infosys, Tata Consultancy Services, Tata Motors and Maruti were also among major gainers.

Eternal, Bajaj Finance, HDFC Bank and State Bank of India were among the laggards.

US markets bounced back sharply on Tuesday. Nasdaq Composite surged 2.71 per cent, Dow Jones Industrial Average jumped 2.66 per cent and S&P 500 rallied 2.51 per cent.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,290.43 crore on Tuesday, according to exchange data.

"President Trump’s message that he has no intention of firing the Fed chief has calmed the US markets. Trump’s remarks on Chinese tariffs indicate that he might reduce the US-China tensions. The sustained buying by FIIs is a strong support to Indian markets," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Global oil benchmark Brent crude climbed 0.67 per cent to USD 67.89 a barrel.

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