Markets climb in early trade on buying in IT, bank stocks

Mumbai: Benchmark equity indices Sensex and Nifty climbed in initial trade on Thursday amid buying in frontline IT and bank stocks.

The 30-share BSE benchmark Sensex climbed 242.95 points to 78,750.36 in early trade. The NSE Nifty went up by 69.25 points to 23,812.15.

From the 30 blue-chip pack, Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, Infosys, HCL Tech, Tech Mahindra, Mahindra & Mahindra and Tata Consultancy Services were the biggest gainers.

NTPC, Sun Pharma, Asian Paints and Adani Ports were among the laggards.

The gross GST collection rose 7.3 per cent year-on-year to Rs 1.77 lakh crore in December despite a significant increase in both domestic and export refunds.

In Asian markets, Seoul, Shanghai and Hong Kong were trading lower.

US markets were closed on Wednesday for New Year holiday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,782.71 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.44 per cent to USD 74.97 a barrel.

The BSE benchmark climbed 368.40 points or 0.47 per cent to settle at 78,507.41 on the first trading session of 2025 on Wednesday. The Nifty went up by 98.10 points or 0.41 per cent to 23,742.90.