Benchmark equity indices Sensex and Nifty climbed in early trade on Thursday, driven by buying in banking shares and positive cues from Asian markets amid optimism surrounding the ongoing US-China Summit.
The 30-share BSE Sensex jumped 450.51 points, or 0.60 per cent, to 75,059.49 in early trade. The 50-share NSE Nifty advanced 169.95, or 0.73 per cent, to 23,582.55.
Among the Sensex constituents, Adani Ports, Trent, Asian Paints, NTPC, Sun Pharmaceuticals, UltraTech Cement, Bharti Airtel, Larsen & Toubro, ITC, Tata Steel, ICICI Bank and Mahindra & Mahindra were the major gainers.
On the other hand, HCL Technologies, Infosys, Tata Consultancy Services and Tech Mahindra were trading in the red territory.
Foreign Institutional Investors (FIIs) sold equities worth Rs 4,703.15 crore on Wednesday, while Domestic Institutional Investors (DIIs) purchased stocks for Rs 5,869.05 crore, according to exchange data.
US markets ended mostly higher in overnight deals on Wednesday.
"Global equities advanced following a largely upbeat session on Wall Street, as investors overlooked elevated Producer Price Index (PPI) data and continued buying in technology and communication stocks," Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Ltd, said.
Meanwhile, Chinese President Xi Jinping on Thursday said that 2026 will be "historic, landmark year" for China-US relations as he welcomed US President Donald Trump at the Great Hall of People for talks with him.
The leaders of the world's two largest economies are scheduled to have a few rounds of talks on Thursday and Friday.
The visit by President Trump comes amid growing economic and geopolitical uncertainties arising from conflicts in the West East and the subsequent global energy shock that has taken a toll, particularly in Asia.
Xi and Trump are expected to discuss the war in Iran, trade, technology and Taiwan, among other points of contention, during the visit.
On Wednesday, the 30-share BSE Sensex rose 49.74 points to settle at 74,608.98. The 50-share NSE edged higher by 33.05 points to end at 23,412.60.
