Stock markets update: Sensex surges 503 points, Nifty up by 178 points to 21,531 in early trade

Image Source : PTI/REPRESENTATIVE Stock markets update — January 29

Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 

Check major gainers

Among the Sensex firms, Sun Pharma, Axis Bank, Kotak Mahindra Bank, Power Grid, Larsen and Toubro, NTPC, ICICI Bank, HDFC Bank and Reliance Industries were the major gainers. JSW Steel, Infosys, ITC and Mahindra And Mahindra were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. The US markets had ended on a mixed note on Friday. Global oil benchmark Brent crude climbed 0.51 per cent to USD 83.98 a barrel.

Rupee falls against dollar

The rupee depreciated 4 paise to 83.15 against the US dollar in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.14 against the dollar, then fell to 83.15, registering a decline of 4 paise from its previous close.

(With PTI inputs)

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