Sensex jumps 302 points, Nifty rises to 13,423 in opening session

New Delhi: Markets had a positive start in opening session with Sensex jumping 302.29 points to 45,856.25 and the Nifty rising 94.95 points to 13,423.35. However, markets pared gains soon later.

The BSE Sensex fell 264.65 points or 0.58 percent to 45,289.31 in early trade while the NSE Nifty tanked 78.60 points or 0.59 percent to 13,249.80.

Major losers in the Sensex pack were ONGC, Bajaj Finance, M&M, ITC, RIL, IndusInd Bank, Dr Reddy, Sun Pharma, Bajaj Finserve, SBI, LT and Ultrachem, falling upto 3.45 percent. Major gainers on the other hand were HDFC, HCL Tech, TCS, Tech Mahindra, Powergrid, Infosys, HDFC Band and NTPC, rising upto 0.97 percent.

Australian S&P/ASX 200 widened losses to be down 0.67%. Japan`s Nikkei 225 slipped 0.85%. MSCI`s gauge of Asia Pacific stocks outside Japan fell 0.21%. China`s benchmark CSI300 Index and Hang Seng Index both opened down 0.2%, a Reuters report said.

Oil prices dropped on expectations of lower demand, with U.S. crude recently down 0.33% at $47.81 per barrel, while Brent was 0.2% lower at $50.81, it added.