MUMBAI: Benchmark equity indices rose in early trade on Thursday amid buying in blue chips Larsen & Toubro and Reliance Industries.
In early trade, the 30-share BSE Sensex rose 41.65 points to 74,262.71. NSE Nifty rose 20.1 points to 22,617.90.
Later, the BSE benchmark was trading 225.06 points higher at 74,456.44 and the Nifty was trading 77.50 points higher at 22,675.30.
Larsen & Toubro, Asian Paints, Axis Bank, State Bank of India, Reliance Industries, Wipro, Titan and Bharti Airtel were the major gainers among Sensex companies.Power Grid, Sun Pharma, JSW Steel and Tata Steel were among the laggards.
The Reserve Bank of India will pay the government a record dividend of Rs 2.1 lakh crore for the financial year ending March 31, double the budgetary expectation, which will help boost revenues before the new government takes charge.
The RBI board approved the transfer of surplus in its 608th meeting on Wednesday, the central bank said in a statement.
"There are both positives and negatives for the market today. The biggest positive is that the government will get Rs 2.11 lakh crore dividend from the RBI, which will provide additional fiscal space of 0.3% of GDP," chief V Vijayakumar said.“Government will give.” Investment Strategist, Geojit Financial Services.
This means the government can reduce its fiscal deficit and increase spending on infrastructure, he said.
"Brent crude falling below $82 is positive for India's macros," Vijaykuma said.
He said the downside for equity markets were Fed meeting minutes that indicated concerns over stubborn inflation.
In Asian markets, Seoul and Tokyo were trading in the green while Shanghai and Hong Kong were lower.Wall Street ended Wednesday in negative territory.
Global oil benchmark Brent crude fell 0.40 per cent to US$81.57 per barrel.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 686.04 crore on Wednesday.
On Wednesday, the BSE benchmark closed 267.75 points or 0.36 per cent higher at 74,221.0. NSE Nifty closed at 22,597.80, up 68.75 points or 0.31 per cent.
In early trade, the 30-share BSE Sensex rose 41.65 points to 74,262.71. NSE Nifty rose 20.1 points to 22,617.90.
Later, the BSE benchmark was trading 225.06 points higher at 74,456.44 and the Nifty was trading 77.50 points higher at 22,675.30.
Larsen & Toubro, Asian Paints, Axis Bank, State Bank of India, Reliance Industries, Wipro, Titan and Bharti Airtel were the major gainers among Sensex companies.Power Grid, Sun Pharma, JSW Steel and Tata Steel were among the laggards.
The Reserve Bank of India will pay the government a record dividend of Rs 2.1 lakh crore for the financial year ending March 31, double the budgetary expectation, which will help boost revenues before the new government takes charge.
The RBI board approved the transfer of surplus in its 608th meeting on Wednesday, the central bank said in a statement.
"There are both positives and negatives for the market today. The biggest positive is that the government will get Rs 2.11 lakh crore dividend from the RBI, which will provide additional fiscal space of 0.3% of GDP," chief V Vijayakumar said.“Government will give.” Investment Strategist, Geojit Financial Services.
This means the government can reduce its fiscal deficit and increase spending on infrastructure, he said.
"Brent crude falling below $82 is positive for India's macros," Vijaykuma said.
He said the downside for equity markets were Fed meeting minutes that indicated concerns over stubborn inflation.
In Asian markets, Seoul and Tokyo were trading in the green while Shanghai and Hong Kong were lower.Wall Street ended Wednesday in negative territory.
Global oil benchmark Brent crude fell 0.40 per cent to US$81.57 per barrel.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 686.04 crore on Wednesday.
On Wednesday, the BSE benchmark closed 267.75 points or 0.36 per cent higher at 74,221.0. NSE Nifty closed at 22,597.80, up 68.75 points or 0.31 per cent.
