Mumbai : Market benchmarks climbed in early trade on Friday, bouncing back from the previous day's fall, following a positive trend in global equities and fresh foreign fund inflows.
The BSE Sensex climbed 503.56 points to 59,412.91 after starting the trade on a positive note. The NSE Nifty advanced 157.15 points to 17,479.05. From the Sensex pack, State Bank of India, Power Grid, IndusInd Bank, NTPC, HCL Technologies, Bharti Airtel, ITC, Mahindra & Mahindra, Reliance Industries and HDFC Bank were the major gainers.
"The US-based investment firm GQG partners investing Rs 15,446 crores in four Adani stocks might influence the market positively. This money is mainly to be used for retiring debt, which means that the banks that had funded Adani companies will not face any stress. This is positive news for Bank Nifty," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.