Stock market opens in green; Sensex climbs over 1,000 points, Nifty above 18,300

Mumbai: Equity benchmark Sensex climbed over 1,000 points in early trade on Friday, helped by heavy buying in IT counters amid a rally in global markets after encouraging US inflation data. A strong rupee against major rivals and continuous buying by foreign funds added to the momentum, traders said. At 10:06 IST, the 30-share BSE index was trading 1,008.43 points or 1.66 per cent higher at 61,622.13. Similarly, the broader NSE Nifty gained 283.65 points or 1.57 per cent to 18,311.85. All the Sensex constituents were trading in the green. Wipro was the top gainer in the pack, rising 3.61 per cent, followed by Tech Mahindra, Infosys, HCL Tech, IndusInd Bank, Tata Steel and TCS. In the previous session, on Thursday, Sensex ended 419.85 points or 0.69 per cent lower at 60,613.70, while Nifty fell 128.80 points or 0.71 per cent to end at 18,028.20. Financial markets rallied after the US consumer price index eased to 7.4 per cent in October from 8.2 per cent in September. Markets were on tenterhooks after the US Federal Reserve indicated more interest rate tightening to fight inflation. The current US inflation data points to an early end of the interest rate hike cycle. In Asian markets, bourses in Tokyo, Shanghai, Seoul and Hong Kong were trading with significant gains. Equities on Wall Street ended sharply higher in the overnight session on Thursday. The rupee appreciated 64 paise to 80.76 against the US dollar in early trade on Friday. Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Thursday, as they bought shares worth Rs 36.06 crore, as per exchange data. International oil benchmark Brent crude was trading 0.36 per cent higher at USD 94.01 per barrel. With inputs from PTI Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.