Sensex gained over 300 points in early trade

The equity benchmark Sensex surged over 300 points in early trade on Wednesday, on the back of rising gains in the index Major Infosys, HDFC and Reliance Industries amid positive signals from global markets and inflow of new foreign funds.

The 30-share BSE index was trading up 329.15 points or 0.65 percent at 51,354.63, and the broader NSE Nifty was trading at 95.75 points or 0.63 percent at 15,194.15.

IndusInd Bank topped the Sensex pack, hovering around 3 percent, followed by Bajaj Finance, M&M, HDFC, Infosys, HCL Tech, Titan, Bajaj Finserv and Reliance Industries.

On the other hand, ONGC, Bharti Airtel, ITC and Nestle India were lagging behind.

The Sensex rose 584.41 points or 1.16 percent to 51,025.48 points in the previous session and the Nifty closed up 142.20 points or 0.95 percent at 15,098.40 points.

Foreign Institutional Investors (FIIs) were net buyers in the capital market as they bought shares worth 01 2,801.87 crore on Tuesday and domestic institutional investors (DIIs) bought a net of ₹ 1,250.22 crore as per exchange data.

According to VK Vijayakumar, chief investment strategist at Geojit Financial Services, bulls and bears are regaining their dominance with the macro trend in this watched game in the market.

“An increase in bond yields temporarily strengthens bears and when yields fall, bulls return vigorously. Now it seems that US 10-year bond yields range from 1.5–1.6 percent for the short-term. Is likely to consolidate into.

He said that FIIs are coming back to buy, adding that this is likely to strengthen the market with buying DIIs.

He said that cooling Brent a bit is also good macro news. The global oil benchmark was trading at $ 66.98 a barrel, down 0.80 percent.

Elsewhere in Asia, Nutrition in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note in mid-season deals.

US equities also ended overnight trading on a positive note.