Sensex climbs about 400 points to regain 61K level in early trading

The BSE Sensex zoomed in close to 400 points to regain the key 61,000 level as deals open on Jan. 12, buoyed by expectations of a good quarterly earnings season.

Starting on a positive note, the BSE meter was trading 397.48 points or 0.66% higher at 61,014.37 in opening trade.

Similarly, the NSE benchmark Nifty rose 96.50 points or 0.53% to trade at 18,152.25 in the early session.

On the Sensex chart, UltraTech Cement, RIL, IndusInd Bank, Bharti Airtel, Kotak Bank and Tata Steel were among the big winners.

In contrast, TCS, Dr. Reddy’s, Titan, Maruti and Wipro among the big stragglers.

In the previous session, the 30-stock benchmark finished 221.26 points or 0.37% higher at 60,616.89 and the NSE Nifty gained 52.45 points or 0.29% to end at 18,055.75.

“Short-term momentum indicates that the market is in full control of the bulls. The expected good results from the three IT majors today are likely to give the market resilience,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Results from the leading banks, which open on Saturday, will also be good on the back of declining provisions and rising net interest margins, he added.

Elsewhere in Asia, markets traded in the green after a higher closing on Wall Street.

Foreign institutional investors (FIIs) were net buyers in the capital market, as they bought shares worth ₹111.91 crore on Jan. 11, according to stock market data.