Nifty, Sensex climb in Friday morning trade on firm global trends

• Tata Steel, Tata Motors, NTPC, JSW Steel, Sun Pharma were some of the major gainers.
• Infosys, HDFC Bank, Asian Paints, Tata Consultancy Services were some of the laggards.
• In Asian peers, Seoul, Tokyo and Shanghai were trading with gains while Hong Kong quoted lower

Benchmark equity indices, the Nifty and the Sensex, began the trade on an optimistic note on Friday tracking firm global market trends. The 30-share BSE Sensex climbed 180.55 points to 71,045.65 in early trade. The Nifty went up by 58 points to 21,313.05. At the time of publishing, the Sensex was up 0.35% while the Nifty was up 0.44%.

However, both the benchmark indices faced volatile trends after early optimism but later bounced back to trade with significant gains.

Among the Sensex firms, Tata Steel, Tata Motors, NTPC, JSW Steel, Sun Pharma and Bajaj Finance were the major winners.

Infosys, HDFC Bank, Asian Paints, Tata Consultancy Services, ICICI Bank and IndusInd Bank were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai were trading with gains while Hong Kong quoted lower.

The US markets ended in the positive territory on Thursday.

"Despite FIIs selling and concerns about the Omicron variant, optimism prevails with expected Federal Reserve rate cuts and positive sentiments on India's growth," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Global oil benchmark Brent crude climbed 0.92% to USD 80.12 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,636.19 crore on Thursday, according to exchange data.

The BSE benchmark jumped 358.79 points or 0.51% to settle at 70,865.10 on Thursday. The Nifty rallied 104.90 points or 0.50% to 21,255.05.