Sensex climbs over 127 points in early trade

Renewed foreign capital inflows supports domestic equities.

Equity benchmark Sensex surged over 127 points in opening trade on Thursday, March 31, 2022, tracking gains in index majors HDFC, Bajaj Finance and ICICI Bank amid a sharp fall in the global oil prices after the US indicated that it is planning a massive release of crude.

Renewed foreign capital inflows also supported the domestic equities, traders said.

The BSE barometer was trading 127.38 points higher at 58,811.37. Similarly, the broader NSE Nifty gained 47.1 points to 17,545.35.

Among the 30-share pack, M&M, HDFC, Bajaj Finance, Axis Bank, Asian Paints, Kotak Mahindra Bank, ITC, HUL, ICICI Bank and IndusInd Bank were the major gainers in early trade.

In contrast, Infosys, Wipro, PowerGrid and Reliance Industries Limited were among the laggards.

In the previous trade, the 30-share BSE barometer index surged 740.34 points or 1.28 per cent to settle at 58,683.99. Similarly, the NSE Nifty climbed 172.95 points or 1 per cent to settle at 17,498.25.

"Hopes of de-escalation in the war have proved to be short-lived and the uncertainties associated with the war continues. From the market perspective, there are two positives that may support the market.