Sensex, Nifty climb on foreign fund inflows; record GST collection in April
Mumbai, May 2
Equity benchmarks climbed in early trade on Tuesday amid continuous foreign fund inflows and record GST collection in April.
Also, a largely firm trend in Asian gauges and buying in index major Reliance Industries and IT counters added to the optimism.
The 30-share BSE Sensex climbed 276.61 points to 61,389.05 in early trade. The broader NSE Nifty went up 89.65 points to 18,154.65.
From the Sensex firms, Infosys, Larsen & Toubro, Wipro, Power Grid, Nestle, NTPC, Asian Paints, HDFC, Hindustan Unilever, Reliance Industries, Tech Mahindra and Tata Steel were the biggest gainers.
Tata Motors, Kotak Mahindra Bank and UltraTech Cement were the laggards.
In Asian markets, Seoul, Shanghai and Hong Kong were trading in the green, while Japan quoted lower.
The US markets had ended marginally lower on Monday.
GST collection in April rose by 12 per cent annually to over Rs 1.87 lakh crore, touching an all-time monthly high, showed the finance ministry data released on Monday.
Foreign Institutional Investors were buyers on Friday as they bought equities worth Rs 3,304.32 crore, according to exchange data.
