Markets bounce back in early trade after three days of fall; Sensex climbs 300 points


Equity benchmark indices rebounded in early trade on Friday (August 4) after three days of fall amid buying in IT counters and mixed global market trends.

The 30-share BSE Sensex climbed 300.1 points to 65,540.78 in early trade. The NSE Nifty advanced 105.9 points to 19,487.55.

From the Sensex pack, Tech Mahindra, Wipro, HCL Technologies, Tata Consultancy Services, Infosys, JSW Steel, Titan and ITC were among the biggest gainers.

Power Grid, Hindustan Unilever, Tata Motors and ICICI Bank were among the laggards.

In Asian markets, Shanghai and Hong Kong were trading in the positive territory while Seoul and Tokyo quoted lower.

The US markets ended marginally lower on Thursday.

India’s services sector growth touched a 13-year high in July as a substantial improvement in demand conditions and pick-up in international sales induced the strongest increase in new business and output, a monthly survey said.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 317.46 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.12 per cent to USD 85.24 a barrel.

The BSE benchmark fell by 542.10 points or 0.82 per cent to settle at 65,240.68 on Thursday.

The Nifty declined 144.90 points or 0.74 per cent to end at 19,381.65.

Rupee rises 2 paise to 82.72 against the US dollar in early trade.

(With PTI inputs)

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