Mumbai, Aug 14 (PTI) Benchmark indices Sensex and Nifty rallied in early trade on Thursday amid buying in blue-chip stocks such as HDFC Bank and TCS, along with a positive trend in the US markets.

Extending its previous day's rally, the 30-share BSE Sensex climbed 154.07 points to 80,693.98 in early trade. The 50-share NSE Nifty went up by 45 points to 24,664.35.

From the Sensex firms, Infosys, Sun Pharma, Asian Paints, HDFC Bank, Maruti and Tata Consultancy Services (TCS) were among the major gainers.

However, Tata Steel, Bharat Electronics, NTPC and Adani Ports were among the laggards.

In Asian markets, Shanghai's SSE Composite index traded in positive territory while South Korea's Kospi, Japan's Nikkei 225 index and Hong Kong's Hang Seng quoted lower.

The US markets ended higher on Wednesday.

"The market will be in a wait-and-watch mode looking for clues from the Trump-Putin summit," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Global oil benchmark Brent crude climbed 0.34 per cent to USD 65.85 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,644.43 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,623.79 crore, according to exchange data.

On Wednesday, the Sensex climbed 304.32 points or 0.38 per cent to settle at 80,539.91. The Nifty edged up by 131.95 points or 0.54 per cent to 24,619.35. PTI SUM SUM DR DR

Equity market rally driven by blue chip buying and institutional flows lifts major indices amid global cues and oil rise. Equity markets opened higher led by buying in major banking and technology stocks, lifting benchmark indices while some industrial shares lagged; global markets were mixed and Brent crude rose modestly. Institutional flow data showed foreign investors as net sellers and domestic investors as net buyers, and market participants awaited geopolitical developments as a near term catalyst.