Sensex jumps over 250 pts in early trade, Nifty tests 11,350

Domestic equity benchmark Sensex jumped over 250 points in early trade on Thursday led by gains in index majors Reliance Industries, ICICI Bank and SBI amid positive cues from global markets.

The 30-share BSE index was trading 269.92 points or 0.71 per cent higher at 38,463.84; while the NSE Nifty rose 73.05 points or 0.65 per cent to 11,351.05.

IndusInd Bank was the top gainer in the Sensex pack, surging around 3 per cent, followed by Bajaj Finserv, SBI, Reliance Industries, Bajaj Finance, Axis Bank and UltraTech Cement.

On the other hand, Bajaj Auto, Titan, Tech Mahindra and HUL were among the laggards.

In the previous session, Sensex ended 171.43 points or 0.45 per cent lower at 38,193.92, while Nifty settled 39.35 points or 0.35 per cent down at 11,278.

Exchange data showed that foreign institutional investors sold equities worth Rs 959.09 crore on a net basis on Wednesday.

Domestic equities opened on a positive note tracking strong gains in global markets, traders said.

Stock exchanges on Wall Street rebounded and ended over 2 per cent higher in overnight trade.

Following suit, bourses in Shanghai, Hong Kong, Seoul and Tokyo were also trading with gains in mid-day deals.

Global oil benchmark Brent crude was trading 0.47 per cent lower at USD 40.60 per barrel.