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Domestic market Sensex rise in the early hours of trade

Dometic market  Sensex rose over 200 points in opening trade on Wednesday lifted by strong gains in index heavyweight Reliance Industries even as weak cues from global markets weighed on overall market sentiment.

After hitting a high of 30,856.14, the 30-share index was trading 130.78 points or 0.43 per cent higher at 30,767.49.

Similarly, the NSE Nifty advanced 17.50 points, or 0.19 per cent, to 8,998.95.

Reliance Industries (RIL) was the top gainer in the Sensex pack, rallying over 7 per cent, after Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in Jio Platforms.

This deal makes Facebook the largest minority shareholder in Jio Platforms, which is part of Reliance Industries.

Sun Pharma, Asian Paints, Maruti, Ultratech Cement and Infosys were also trading on a positive note.

On the other hand, ONGC, PowerGrid, Bajaj Finance, IndusInd Bank and HDFC were among the laggards.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with heavy losses in early deals.

On Wall Street, key indices crashed up to 3 per cent in overnight session.

Meanwhile, the rout in global oil prices continued, with Brent crude futures plunging 13.30 per cent to USD 16.76 per barrel.

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