Sensex rises over 125 points in opening trade; Nifty tops 15,800

Tech Mahindra was the top gainer in the Sensex pack, rising over 8%, followed by HCL Tech, Power Grid, HDFC, Dr Reddy and M&M

Equity benchmark Sensex rose over 125 points in early trade on Friday, tracking gains in index majors Tech Mahindra, TCS and HDFC twins.

In a very volatile start at the markets, both the indices – Sensex and Nifty - were oscillating frequently between the green and red.

The 30-share index was trading 125.81 points or 0.24 per cent higher at 52,778.88 in initial deals, while the broader NSE Nifty advanced 38.55 points or 0.24 per cent to 15,817.00.

Tech Mahindra was the top gainer in the Sensex pack, rising over 8 per cent, followed by HCL Tech, Power Grid, HDFC, Dr Reddy and M&M.

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Tech Mahindra on Thursday reported a 42.91 per cent growth in June quarter consolidated net profit at Rs 1,365.7 crore on higher revenue and an expansion in profit margins.

Besides, TCS and HDFC Bank gained up to 0.45 per cent in early deals.

On the other hand, Bajaj Finserv, SBI, Bharti Airtel and Asian Paints were among the laggards.

In the previous session, Sensex climbed 209.36 points or 0.40 per cent to close at 52,653.07, while the broader NSE Nifty surged 69.05 points or 0.44 per cent to 15,778.45.

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Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 866.26 crore on Thursday, as per provisional exchange data.

Elsewhere in Asia, bourses in Shanghai, Seoul, Tokyo and Hong Kong were in the red.

Equities on Wall Street too ended on a positive note in overnight sessions.

Meanwhile, international oil benchmark Brent crude declined 0.68 per cent to $75.53 per barrel.