Sensex rose 100 points in early trade, Nifty near 15,850

New Delhi: Equity benchmark Sensex soared over 100 points in early trade on Wednesday, tracking gains in index heavyweights HDFC twins, Asian Paints in TCS.

After starting on a negative note, the 30-share BSE index turned positive to trade 119.36 points or 0.23 per cent higher at 52,980.54 in early deals.

Similarly, the broader NSE Nifty rose 25.10 points or 0.16 per cent to 15,843.35.

HDFC was the top gainer in the Sensex pack, rising nearly 2 per cent, followed by Asian Paints, Tata Steel, PowerGrid, Bajaj Finserv, Maruti and HDFC Bank.

On the other hand, Titan, M&M, UltraTech Cement, HUL and Tech Mahindra were among the laggards.

In the previous session, the Sensex was down 18.82 points or 0.04 per cent at 52,861.18 and the Nifty was down 16.10 points or 0.1 per cent at 15,818.25.

Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 543.30 crore on Tuesday, according to provisional exchange data.
Notably, a sharp rise in crude oil prices and a strengthening dollar index influenced sentiments in recent weeks. Accordingly, FIIs have emerged as big net sellers, said Binod Modi, Head of Strategy at Reliance Securities.

However, with the ease of doing business improving the pace of trading started relaxing, he said.

Meanwhile, international oil benchmark Brent crude slipped 0.15 per cent to $74.42 per barrel.

Elsewhere in Asia, exchanges in Hong Kong, Seoul and Tokyo were trading in the red in mid-session deals, while Shanghai was in positive territory.

Modi said US stocks closed mixed as supply chain bottlenecks weighed on the economy.

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