Markets climb in early trade on heavy buying in Reliance Industries

Mumbai: Equity benchmark indices rebounded in early trade on Monday amid unabated foreign fund inflows and buying in index major Reliance Industries and HDFC twins.

Bouncing back from Friday's decline, the 30-share BSE Sensex climbed 252.87 points to 65,533.32 in early trade. The NSE Nifty advanced 76.1 points to 19,407.90.

From the Sensex pack, Reliance Industries quoted with over 3 per cent gains. HDFC, Tata Motors, State Bank of India, HDFC Bank, Axis Bank, UltraTech Cement and Mahindra & Mahindra were the biggest gainers.

HCL Technologies, Titan, Power Grid, Bajaj Finance, Tata Consultancy Services, Tech Mahindra, Wipro and Bajaj Finserv were among the laggards.

Foreign Institutional Investors (FIIs) continued their buying activity as they bought equities worth Rs 790.40 crore on Friday, according to exchange data.

In Asian markets, Shanghai and Hong Kong quoted in the green while Seoul and Tokyo traded lower.

The US markets ended in the negative territory on Friday.

Global oil benchmark Brent crude dipped 0.62 per cent to USD 77.98 a barrel.

The BSE benchmark had fallen by 505.19 points or 0.77 per cent to 65,280.45 on Friday. The Nifty had declined by 165.50 points or 0.85 per cent to 19,331.80.