Stock markets jump in early trade; Sensex gains 414 points, Nifty above 19,250 amid positive global cues

Stock markets: Equity benchmark indices witnessed growth for the second consecutive day on Friday following a rally in global markets. In the early trade, the 30-share BSE Sensex jumped 414.06 points to 64,494.96 in early trade. The Nifty climbed 125.5 points to 19,258.75. 

Among the Sensex firms, Tata Motors traded over 2 per cent higher after the company on Thursday reported a consolidated net profit of Rs 3,783 crore for the September quarter, riding on robust performance by its British arm Jaguar Land Rover.

Tech Mahindra, ICICI Bank, Titan, Mahindra & Mahindra and Sun Pharma were the other major gainers. Tata Steel, NTPC, Asian Paints and Kotak Mahindra Bank were the major laggards. In Asian markets, Seoul, Shanghai and Hong Kong were trading with gains. The US markets ended with significant gains on Thursday.

Global oil benchmark Brent crude climbed 0.14 per cent to USD 86.97 a barrel. Foreign Institutional Investors (FIIs) continued to be net sellers in the capital markets as they offloaded equities worth Rs 1,261.19 crore on Thursday, according to exchange data.

Rupee falls against dollar

The rupee depreciated 4 paise to 83.26 against the US dollar in the morning session on Friday, tracking a strong American currency overseas and sustained foreign fund outflows.

Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside. At the interbank forex exchange, the rupee opened at 83.22 and then touched 83.26 against the American currency, registering a decline of 4 paise over its previous close.

(With PTI inputs)

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