Sensex jumps over 200 pts in early trade, Nifty tests 10,750

Equity benchmark Sensex jumped over 200 points in early trade on Thursday tracking gains in financial stocks amid positive cues from global markets.

After touching a high of 36,541.53 in opening session, the 30-share index was trading 190.57 points, or 0.52 per cent, higher at 36,519.58. The NSE Nifty was up 54.70 points, or 0.51 per cent, at 10,760.45.

Tata Steel was the top gainer in the Sensex pack, rising around 2 per cent, followed by IndusInd Bank, Bajaj Finance, ICICI Bank, M&M, SBI and Axis Bank.

On the other hand, Maruti, Reliance Industries, TCS and Titan were among the laggards.

In the previous session, the BSE barometer ended 345.51 points, or 0.95 per cent, lower at 36,329.01, and the broader Nifty shed 93.90 points, or 0.87 per cent, to close at 10,705.75.

Foreign institutional investors were net sellers in the capital market on Wednesday, offloading equities worth Rs 994.87 crore, provisional exchange data showed.

According to traders, market participants followed optimism in global equities, shrugging off concerns over rising number of COVID-19 cases and its impact on economic recovery.

The number of cases around the world linked to the disease has crossed 1.20 crore and the death toll has topped 5.48 lakh.

In India, the number of infections spiked to 7.67 lakh and the death toll rose to 21,129.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains.

Stock exchanges on Wall Street too ended on a positive note in overnight session.

Meanwhile, international oil benchmark Brent crude futures slipped 0.05 per cent to USD 43.27 per barrel.