Market Watch: Sensex climbs over 500 points in early trade; Nifty tops 17,800

Equity benchmark, the BSE Sensex climbed over 500 points in the morning trade on October 7, tracking gains in Reliance Industries, Titan and ICICI Bank amid a positive trend in global equities.

Around10.30 am, the BSE Sensex was trading 550 points higher at 59,740. Similarly, the Nifty rose 164.25 points or 0.93 percent to 17,810. All Sensex components were trading on a positive territory. Titan Company was the top gainer, rising nearly 9 percent followed by IndusInd Bank, Mahindra and Mahindra Maruti, Asian Paints, Reliance Industries and L&T.  In the previous session, the 30-share index closed 555.15 points lower at 59,189.73, and Nifty tumbled 176.30 points or 0.99 percent to 17,646.

Meanwhile, Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 802.81 crore on October 6, as per exchange data. Meantime, international oil benchmark Brent crude slipped 0.60 percent to USD 80.59 per barrel

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were trading with gains in mid-session deals. Shanghai was closed for the holidays. Stock exchanges in the U.S. also ended on a positive note in the overnight session.

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