Markets rally in early trade on firm global equities

Mumbai, Jan 9 (PTI) Equity benchmarks rallied in initial trade on Monday amid positive trends in global markets and buying in IT counters.

The 30-share BSE Sensex climbed 367.92 points to 60,268.29. The broader NSE Nifty advanced 119.4 points to 17,978.85.

From the Sensex pack, Tech Mahindra, Tata Consultancy Services, Tata Motors, Bharti Airtel, Tata Steel, HCL Technologies, Wipro, IndusInd Bank, Mahindra & Mahindra and Infosys were the major winners.

Titan and ICICI Bank were the only laggards.

Elsewhere in Asia, equity markets in Seoul, Shanghai and Hong Kong traded in the green.

Markets in the US had ended sharply higher on Friday.

The Sensex had tumbled 452.90 points or 0.75 per cent to settle at 59,900.37 on Friday.The Nifty went lower by 132.70 points or 0.74 per cent to end at 17,859.45.

International oil benchmark Brent crude jumped 1.06 per cent to USD 79.40 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,902.46 crore on Friday, according to exchange data.