Sensex, Nifty rise in early trade amid buying in HDFC Bank, SBI

Mumbai stock market opens positively with Sensex and Nifty rising, driven by blue-chip stocks like HDFC Bank and SBI.

Equity benchmark indices Sensex and Nifty opened on a positive note in early trade on Thursday amid buying in blue-chip stocks like HDFC Bank and State Bank of India.

The BSE benchmark Sensex rose 95 points to 80,329.08 in early trade. The NSE Nifty went up 48.15 points to 24,323.05.

From the 30-share Sensex pack, HDFC Bank, Adani Ports, ITC, State Bank of India, Hindustan Unilever, Tata Motors, IndusInd Bank and Tata Steel were among the gainers.

Tech Mahindra, Infosys, HCL Technologies, Mahindra & Mahindra, Tata Consultancy Services and Power Grid were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth ₹7.78 crore on Wednesday (November27, 2024), according to exchange data.

"The consolidation phase in the market is likely to continue in the near-term. A clear positive for the market is the cessation of relentless selling by Foreign Instututional Investors (FIIs). This will give confidence to retail investors to again start buying aggressively.

"But there is no room for such high optimism. Strong dollar is a negative for emerging markets and, therefore, FIIs are unlikely to turn aggressive buyers," V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.