Equity benchmark Sensex rallied over 400 points in early trade on Friday, tracking gains in index majors HDFC twins, Reliance Industries and TCS amid positive cues from global markets. The 30-share BSE index was trading 416.43 points or 0.85 per cent higher at 49,366.19 in initial deals. Similarly, the broader NSE Nifty surged 121.10 points or 0.82 per cent to 14,845.90. IndusInd Bank was the top gainer in the Sensex pack and rose over 2 per cent, followed by M&M, NTPC, HDFC Bank, SBI, TCS, Asian Paints and Reliance Industries.

On the other hand, Bajaj Auto, PowerGrid, Bharti Airtel and Nestle India were among the laggards. In the previous session, Sensex closed higher by 272.21 points or 0.56 per cent at 48,949.76, and Nifty ended with a gain of 106.95 points or 0.73 per cent at 14,724.80. Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 1,222.58 crore on Thursday, while domestic institutional investors (DIIs) purchased shares worth Rs 632.51 crore, according to provisional exchange data.