Mumbai – Indian shares climbed in early trade on Friday, extending gains for the second straight session, helped by broad-based buying interest across sectors.
The BSE Sensex rose over 300 points to hit an intraday high of 72,156 in opening deals. The NSE Nifty 50 also added 91 points to touch 21,750.
Buying momentum was seen across the board barring pharma and healthcare stocks. Tech, IT, media, and realty stocks saw heightened interest from investors.
Wipro, Infosys, Tech Mahindra, NTPC, and HCL Tech were the prominent gainers on the benchmark Sensex index – rising between 1-2%.
In the broader market, midcap and smallcap stocks built on Thursday’s rally and gained up to 0.9% each. Nifty Realty also hit fresh 52-week highs led by Godrej Properties.
Analysts said the recovery in domestic stocks over the last two days helped erase some oversold conditions seen earlier this week amid mixed global cues.
In the currency market, the rupee opened marginally higher at 83.23 per dollar compared to the previous close of 83.27 aided by the uptick in domestic equities.
On Thursday, markets made a strong comeback attempt with Sensex rebounding 459 points and Nifty settling above 21,650 levels following late buying. Investors seemed to lap up stocks following the recent corrections.
The focus now turns to the Union Budget next week which will set the tone for the rest of the year. Volatility cannot be ruled out as traders roll over positions on expiry day today.
