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Stock markets jump in early trade; Sensex gains 237 points, Nifty around 21,900 amid positive global cues

Stock markets: The benchmark equity indices opened on a positive note on Wednesday amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 

From the Sensex basket, Maruti, Power Grid, Nestle, IndusInd Bank, Tata Consultancy Services, and Wipro were the major gainers. JSW Steel, Tata Steel, Hindustan Unilever, and Tata Motors were among the laggards. In Asian markets, Seoul, Shanghai, and Hong Kong were trading in positive territory.

Foreign Institutional Investors (FIIs) on Tuesday bought equities worth Rs 1,421.48 crore, according to exchange data. Global oil benchmark Brent crude dipped 0.17 percent to USD 87.23 a barrel.

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Rupee against dollar in Sensex

The rupee gained 1 paisa to 83.02 against the US dollar on Wednesday ahead of the announcement of the key US Fed policy decision later in the day. At the interbank foreign exchange market, the rupee opened higher at 83.00 against the previous close of 83.03 in line with firm domestic stock markets.

The rupee traded at 83.02, up 1 paisa, in early morning deals. The local unit fell 13 paise to settle below the 83 level for the first time in the past month due to a spike in crude oil prices and foreign fund outflows. The rupee has declined in the past seven straight sessions against the US dollar.

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(With PTI inputs)

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