Sensex, Nifty advance in early trade on positive global cues

MUMBAI: Key equity indices rose in early trade on Friday as Sensex advanced nearly 100 points amid a global rally in stocks boosting investor sentiments.

The 30-share Sensex climbed 99.44 points or 0.14 per cent to 73,257.68 points while the broader Nifty gained 18.30 points or 0.08 per cent to 22,235.75 points.

Among the Nifty constituents, 32 shares were trading in the green.

In the Sensex pack, 18 stocks advanced, with Titan rising more than 1 per cent.

The global rally, mainly spurred by US chipmaker Nvidia Corp's strong quarterly earnings, has pushed markets in the US, Europe and Japan to record levels.

Sensex and Nifty surged on Thursday, with the latter touching its all-time high closing level of 22,217.45 points.

Deepak Jasani, Head of Retail Research at HDFC Securities, said Asian stocks extended their gains on Friday, fuelled by the global rally in equities that has seen share markets from the US to Europe and Japan hit all-time highs.

In Asia, Japan's benchmark index Nikkei 225 jumped more than 2 per cent.

"US stocks surged Thursday, with the Dow Jones Industrial Average and S&P 500 indexes setting another round of records and the Nasdaq finishing just shy of its first record close since 2021, after Nvidia Corp's blowout earnings unleashed a wave of optimism that drove global markets higher," Jasani said.

In the domestic market, Foreign Portfolio Investors (FPIs) were net sellers on Thursday as they offloaded securities worth Rs 1,410.05 crore.