Tech, banking stocks lift Sensex by 197 points in early trading

Equity benchmark indices traded in the green during the morning session on Thursday with IT and banking stocks gaining ground.

Among the early gainers were Infosys, TCS, HCL Tech, Yes Bank, Bank of Baroda and Punjab National Bank.

At 11:15 am, the BSE S&P Sensex was up 197 points at 38,329 while the NSE Nifty 50 gained 66 points at 11,511.

Shares of HCL Tech and Indiabulls Housing Finance gained nearly 3 per cent in the morning session while Yes Bank was up by 1.6 per cent.

Vedanta, Adani Ports, NBCC and Ultratech Cement also gained marginally. But Tata Motors, Bajaj Auto, ONGC, Dr Reddy Labs and Power Grid traded in the red.

Meanwhile, Asian shares declined as the dip in developed market sovereign bond yields continued to disappoint investors about the global economic outlook.