The benchmark BSE Sensex jumped over 150 points in early trade on Wednesday, led by gains in oil and gas, banking and IT stocks, ahead of the general election results. The 30-share index was trading 157.51 points, or 0.40 per cent, higher at 39,127.31.
In similar movement, the broader NSE Nifty rose 30.90 points, or 0.26 per cent, to 11,740.
In the previous session, the Sensex ended 382.87 points, or 0.97 per cent, lower at 38,969.80, and the Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10.
Top Sensex gainers in morning trade include Sun Pharma, Bharti Airtel, ICICI Bank, RIL, HDFC twins, Tata Motors, ONGC, Infosys, Maruti and Kotak Bank, rising up to 1.38 per cent.
On the other hand, Yes Bank, IndusInd Bank, ITC, HUL, Bajaj Finance and Tata Steel fell up to 2.84 per cent.
According to experts, investor sentiment turned positive this week after most exit polls forecast a win for Narendra Modi-led NDA. The results of the seven-phase polls will come out Thursday.Continued foreign fund inflow too buoyed market mood here, traders said.
Foreign institutional investors bought equity worth Rs 1,185.44 crore on Tuesday, while domestic institutional investors sold shares to the tune of Rs 1,090.32 crore, provisional data available with stock exchanges showed.
Elsewhere in Asia, bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions.
Benchmarks on Wall Street ended in the green on Tuesday.
On the currency front, the rupee appreciated 4 paise to 69.67 against the US dollar in opening trade on Wednesday.
Brent crude, the global benchmark, was trading at 71.81 per barrel, lower by 0.51 per cent.
Rupee gains 5 paise against US dollar in early trade
The rupee ticked higher by 5 paise to 69.67 against the US dollar Wednesday amid weakness in the greenback and easing crude oil prices.
Strong FIIs inflows and higher domestic equity markets also improved sentiments for the rupee, forex dealers said.
At the interbank foreign exchange, the domestic unit opened almost flat at 69.70 against the dollar and then it strengthened by 5 paise to quote at 69.67 in early trade.
The rupee had appreciated 2 paise to 69.72 against the US dollar in the previous session.
The US currency was trading lower in overseas market as the dollar index was down by 0.04 per cent to 98.02 against its six global rivals.
Brent crude, the global benchmark, was trading lower by 0.55 per cent to 71.78 per barrel.
The BSE Sensex was trading 157.51 points, or 0.40 per cent, higher at 39,127.31, in early trade. In similar movement, the broader NSE Nifty rose 30.90 points, or 0.26 per cent, to 11,740.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,185.44 crore on Tuesday, provisional exchange data showed.
A report by Goldman Sachs has suggested that the USD/INR would trade near the 69 level in the next three months if the official election outcome bear out the exit poll trends.