Markets rebound in early trade; Sensex rises 196 points

New Delhi: Markets extended gains in early trade on Friday, led by intense buying mainly in banking and IT counters.

The BSE Sensex rose 196.65 points or 0.49 percent to 39,925.06 in early trade while the NSE Nifty jumped 52.45 points or 0.45 percent to 11,732.80.

Major gainers in the Sensex pack were Titan, Bajaj Auto, Tata Steel, Kotak Bank, IndusInd Bank, Tech Mahindra, HDFC Bank, Powergrid, Bharti Airtel, TCS, Infosys and Bajaj Finance, rising upto 1.37 percent. On the other hand, major losers were HCL Tech, Nestle, Asian Paint, ITC and HUL, Falling upto 3.19 percent.

On Thursday, the Sensex had plummeted by 1,066.33 points or 2.61 per cent to end at 39,728.41. The broader NSE Nifty had crashed 290.70 points or 2.43 per cent to 11,680.35. Foreign institutional investors turned net sellers in the capital market as they offloaded shares worth Rs 604.07 crore on Thursday, exchange data showed. 

The rupee meanwhile, slipped 6 paise to 73.42 against US dollar in early trade. 

Asian shares were trading on a mixed note amid growing fears about resurgence of coronavirus cases in some countries. Japan's benchmark Nikkei 225 inched up less than 0.1% by midday to 23,523.37. Australia's S&P/ASX 200 shed 0.2% to 6,196.10. South Korea's Kospi declined 0.6% to 2,346.88. Hong Kong's Hang Seng gained 0.9% to 24,363.70, while the Shanghai Composite was unchanged at 3,332.05.