MUMBAI: Benchmark equity indices rose in early trade on Thursday but faced highly volatile trends and any immediate change in the market was likely to lead to stagnant trading soon.

In early trade, the 30-share BSE Sensex rose 250.72 points to 77,588.31. NSE Nifty rose 71.7 points to 23,587.70.

However, both the benchmark indices faced huge volatility and remained in ups and downs.

Among the 30 Sensex companies, Kotak Mahindra Bank, Tata Motors, UltraTech Cement, HDFC Bank, Mahindra & Mahindra and Reliance Industries were the biggest gainers.

Sun Pharma, Power Grid, Bajaj Finserv and Bajaj Finance were among the laggards.

In Asian markets, Seoul was trading in the green while Tokyo, Shanghai and Hong Kong declined.

American markets remained closed on Wednesday in observance of Juneteenth.

According to exchange data, foreign institutional investors (FIIs) bought equities worth Rs 7,908.36 crore on Wednesday.

Global oil benchmark Brent crude rose 0.64 percent to US$85.07 per barrel.

Gaining for the fifth consecutive session on Wednesday, the BSE benchmark closed at a new closing level of 77,337.59, up 36.45 points or 0.05 per cent. During the day, it rose 550.49 points or 0.71 percent to hit a new lifetime peak of 77,851.63.

Nifty closed at 23,516, down 41.90 points or 0.18 per cent. Intra-day it rose 106.1 points or 0.45 percent to a new record of 23,664.