SENSEX jumps over 500 pts in early trade, NIFTY50 above 23,350; LTTS jumps 10%, CEAT shares fall 6% post Q3 numbers

The 30-share BSE benchmark SENSEX jumped 595.42 points to 77,319.50 in early trade. The NSE NIFTY rallied 178.45 points to 23,391.65.

Nestle, Hindustan Unilever, ITC, and Tata Consultancy Services were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in positive territory.

US markets rallied on Wednesday.

"Wall Street rallied overnight following cooler-than-expected core December CPI data, with the US 10-year benchmark rate falling to 4.68% from its recent high," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Foreign institutional investors (FIIs) offloaded equities worth ₹4,533.49 crore on Wednesday, according to exchange data.

"Macro indicators from the US suggest that as the swearing-in of Trump nears, the Trump trade has peaked. The decline in US bond yields and the dollar index are indications of this. This downshift in the dollar index and bond yields has been assisted by the lower-than-expected CPI inflation in the US, again igniting hopes of more rate cuts by the Fed this year," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Global oil benchmark Brent crude climbed 0.44% to $82.39 a barrel.

Buzzing Stocks

The mid-tier IT services company reported a 3.1% quarter-on-quarter (QoQ) and 9.5% year-on-year (YoY) rise in its consolidated revenue at ₹2,653 crore for the quarter.

The company on Wednesday reported a 46.48% decline in consolidated net profit to ₹97.03 crore for the third quarter ended December 31, impacted by high raw materials costs.