Equity benchmark Sensex surged over 200 points in early trade on Thursday, led by strong buying in HDFC Bank, ICICI Bank, TCS and Reliance Industries amid persistent foreign fund inflow.
After hitting a high of 34,310.14, the 30-share index was trading 124.02 points or 0.36% higher at 34,233.56. Similarly, NSE Nifty rose 41.65 points or 0.41% to 10,103.20.
Tech Mahindra was the top gainer in the Sensex pack, rising around 3%, followed by Sun Pharma, TCS, PowerGrid, HDFC Bank, HCL Tech and ICICI Bank.
On the other hand, Titan, M&M, ONGC and HDFC were among the laggards.
In the previous session, the BSE barometer settled at 34,109.54, up 284.01 points or 0.84%, while the broader Nifty rose 82.45 points or 0.83% to end at 10,061.55.
On a net basis, foreign portfolio investors bought equities worth ₹1,851.12 crore in the capital market on Wednesday, provisional exchange data showed. Besides stock-specific action, sustained foreign fund inflow led to the positive sentiment in the market, traders said.
However, benchmarks may succumb to profit-booking and turn jittery amid weak cues from Asian peers, they added.
Bourses in Shanghai, Hong Kong and Tokyo were in the red amid concerns over rising US-China tension, while those in Seoul were trading with gains.
Exchanges on Wall Street ended on a positive note in overnight trade. International oil benchmark Brent crude futures fell 1.51% to $39.19 per barrel.