Sensex jumps over 300 points in early trade, Nifty tops 11,350

Axis Bank was the top gainer in the Sensex pack, rising nearly 3%.

Benchmark Sensex surged over 300 points in early trade on August 11 tracking gains in index-heavyweights ICICI Bank, HDFC twins and Infosys amid sustained foreign fund inflow and firm cues from global markets.

The BSE Sensex was trading 342.50 points or 0.90% higher at 38,524.58, while the NSE Nifty was up 101.75 points or 0.90% at 11,371.90.

Axis Bank was the top gainer in the Sensex pack, rising nearly 3%, followed by Tata Steel, ICICI Bank, HDFC, PowerGrid, Tech Mahindra and SBI.

On the other hand, Titan, Sun Pharma, Bharti Airtel and Reliance Industries were among the laggards.

In the previous session, the Sensex had settled 141.51 points or 0.37% higher at 38,182.08. The NSE Nifty climbed 56.10 points or 0.50% to close at 11,270.15.

Exchange data showed that foreign institutional investors bought equities worth ₹302.88 crore on a net basis on August 10.

According to traders, market sentiment strengthened tracking gains in other Asian indices ahead of virtual trade talks between the U.S. and China at the end of the week.

Consistent foreign fund inflow too buoyed investor sentiment here, they said.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with firm gains in mid-session deals.

Stock exchanges on Wall Street ended on a mixed note in overnight trade.

Global oil benchmark Brent crude was trading 0.53% higher at $45.23 per barrel.

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