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Stock market benchmark indices climbed in early trade on April 12, extending their rally for an eighth day running, following strength across most Asian equity exchanges and steady foreign fund inflows.
Also, buying in index majors Reliance Industries, HDFC twins and Tata Consultancy Services added to the positive trend in the equity market.
The 30-share BSE Sensex climbed 92.29 points to 60,250.01 in early deals. The broader NSE Nifty rose 51.35 points to 17,773.65.
Among Sensex firms, Reliance Industries, HDFC, HDFC Bank, Titan, UltraTech Cement, Tata Consultancy Services, Tata Motors, Bajaj Finserv, Bajaj Finance and Tata Steel were the biggest winners in early trade.
IndusInd Bank, Nestle, Hindustan Unilever, Power Grid, NTPC and Kotak Mahindra Bank were among the laggards.
In Asian bourses, Seoul, Japan and Shanghai were trading in the green, while Hong Kong declined. On April 12, the US markets mostly closed with a fall.
“All eyes will be on the CPI inflation and IIP numbers, which will be out later today, as the RBI recently refrained from hiking rates in its policy announcement. Against the backdrop of the recent slump in technology stocks, investors will be keeping an eye on TCS results. Will follow keenly.” Prashant Tapase, Senior Vice President (Research), Mehta Equities Ltd. made the announcement during the post-market hours.
On Tuesday, the Sensex closed at 60,157.72, up 311.21 points or 0.52%. The Nifty closed at 17,722.30, up 98.25 points or 0.56%.
Geojit Chief Investment Strategist VK Vijayakumar said, “For equity markets, globally, today’s March US inflation data is important as it will determine Fed’s response in May policy meeting. March CPI print in India also keenly watched Will be watching.” financial Services.
Meanwhile, global oil benchmark Brent crude gained marginally 0.02% to $85.63 per barrel. Foreign portfolio investors (FPIs) bought equities worth Rs 342.84 crore on Tuesday, according to exchange data.