Mumbai: Equity benchmark indices started the trade on a positive note on Thursday mirroring a rally in the global markets and continuous foreign fund inflows. The BSE Sensex climbed by 379.15 points to reach 61,654.24 after a firm start. The NSE Nifty advanced by 108.25 points to end at 18,124.10.
The 30-share BSE benchmark had advanced by 242.83 points or 0.40 percent to settle at 61,275.09 on February 15. The broader Nifty of NSE climbed by 86 points or 0.48 percent to settle at 18,015.85. Foreign Portfolio Investors (FPI) were net buyers as they bought shares worth Rs 432.15 crore on February 15, according to exchange data.
All the Sensex firms were trading in the green in initial trade, with Tech Mahindra, Reliance Industries, HDFC, Tata Consultancy Services, Tata Motors, Mahindra & Mahindra, Asian Paints and HDFC Bank emerging as the prominent winners.
"Two factors have contributed to the ongoing mild rally in the market. One, the global market construct is favourable and, two, the bulls have been emboldened by the apparent change in FII strategy from selling to buying," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Among Asian markets, Japan, China and Hong Kong were trading higher.
The US markets had ended in the positive territory on February 15.
International oil benchmark Brent crude climbed 0.49 percent to USD 85.80 per barrel.
"While intra-day sideways movement could continue amid sluggish mood in global equities, traders would take solace from the return of FIIs into the local markets, as they have been net buyers for the past four trading sessions," said Prashanth Tapse, Research Analyst, Senior VP (Research), Mehta Equities Ltd.
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