Share market rebound in early trade on firm global equities, foreign fund inflows

Mumbai: Equity benchmark indices rebounded in early trade on Friday amid positive global market trends and foreign fund inflows.

The 30-share BSE Sensex jumped 280.62 points to 63,198.25 in early trade. The NSE Nifty climbed 82.8 points to 18,770.90.

From the Sensex pack, UltraTech Cement, State Bank of India, Nestle, ICICI Bank and Reliance Industries were the major gainers.

Tata Consultancy Services, Wipro, Power Grid and Maruti were the biggest laggards.

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

The US markets ended significantly higher on Thursday.

"FIIs turning net buyers to the tune of Rs 3,086 crore in yesterday’s trade may aid sentiment," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Global oil benchmark Brent crude dipped 0.25 per cent to USD 75.49 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 3,085.51 crore on Thursday, according to exchange data.

The Sensex had slipped 310.88 points or 0.49 per cent to settle at 62,917.63 on Thursday. The Nifty declined 67.80 points or 0.36 per cent to end at 18,688.10.