Indian stocks surge in early trade, tech shares lead gains

Indian stocks surge in early trade, tech shares lead gains

Illustration of the BSE building in Mumbai.

Indian shares began Wednesday on a good note, with the BSE Sensex and Nifty rising in early trading, boosted by strong gains in technology firms.

The BSE Sensex jumped 506 points to 76,963, while the Nifty50 index gained 0.65 per cent to 23,417.

Tech Mahindra, Tata Motors, HCL Tech, TCS, and Powergrid led the surge on the Sensex, while Bharti Airtel, Axis Bank, ICICI Bank, Asian Paints, and Ultratech Cement suffered losses.

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Meanwhile, on the Nifty 50, BPCL, Wipro, and LTIMindtree outperformed, while NTPC, Grasim Industries, and Titan fell.

Broader indexes outperformed benchmarks, with the MidCap index rising 0.49 per cent and the SmallCap index increasing by 0.62 per cent.

In terms of sector performance, Nifty IT, Nifty Media, and Nifty Oil and Gas all saw considerable gains, climbing 1.34 per cent, 1.05 per cent, and 0.97 per cent, respectively. Conversely, Nifty FMCG fell 0.28 per cent.

Investors are also looking forward to India's inflation data, which is due later today. According to a Reuters poll, economists expect a modest increase to 4.89 per cent from 4.83 per cent in April.

(With inputs from Agencies)

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