Markets trade firm; Tata Motors jumps nearly 8%

MUMBAI: Benchmark equity indices climbed in early trade on Monday helped by a rally in Tata Motors and firm trend in the US markets.

The 30-share BSE Sensex climbed 193.43 points to 72,279.06 in early trade. The Nifty went up by 51.15 points to 21,904.95.

Among the Sensex firms, Tata Motors jumped nearly 8% after the company on Friday reported two-fold jump in net profit at Rs 7,100 crore for December 2023 quarter.

Sun Pharma, Mahindra and Mahindra, Tata Steel, NTPC, Tech Mahindra and Tata Consultancy Services were among the other major gainers.

Kotak Mahindra Bank, ICICI Bank, HDFC Bank and IndusInd Bank were among the laggards.

In Asian markets, Tokyo traded in the green while Seoul, Shanghai and Hong Kong were quoting lower.

The US markets ended in the positive territory on Friday.

Global oil benchmark Brent crude climbed 0.32 per cent to USD 77.58 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 70.69 crore on Friday, according to exchange data.

The BSE benchmark climbed 440.33 points or 0.61 per cent to settle at 72,085.63 on Friday. The Nifty went up by 156.35 points or 0.72 per cent to 21,853.80.