Sensex jumps 712 points in early trade; Nifty above 17,300

Equity benchmark Sensex surged 712 points in opening trade on January 31, tracking gains in index-majors Wipro, Bajaj Finance and Infosys amid a positive trend in the Asian markets.

Starting on a positive note, the BSE gauge was trading 712.61 points or 1.25% higher at 57,912.84 in early trade. Likewise, the Nifty advanced 216.95 points or 1.27% to 17,318.90.

Meanwhile, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22 later in the day.

Tech Mahindra was the top gainer in the Sensex pack, rising 2.85%, followed by Wipro, Bajaj Finance, Asian Paints, Bajaj Finserv, Ultratech Cement and Infosys.

On the other hand, NTPC, IndusInd Bank and L&T were the laggards.

In the previous session, the 30-share BSE index finished 76.71 points or 0.13% lower at 57,200.23. Similarly, the broader NSE Nifty slipped 8.20 points or 0.05% to 17,101.95.

Elsewhere in Asia, bourses in Hong Kong and Tokyo were trading with gains in mid-session deals.

Markets in China and South Korea are closed for a holiday.

Meanwhile, international oil benchmark Brent crude rose 1.31% to $91.21 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out ₹5,045.34 crore January 28, as per provisional data.