Equity benchmark indices climbed in early trade on Monday, mainly due to buying in index majors Reliance Industries and HDFC Bank as well as positive sentiment in the US market. , Photo Credit: Paul Noronha
Equity benchmark indices climbed in early trade on Monday, mainly due to buying in index majors Reliance Industries and HDFC Bank as well as positive sentiment in the US market.
The 30-share BSE Sensex climbed 137.55 points to 57,664.65 in early trade. The broader NSE Nifty rose 46.05 points to 16,991.10.
Among Sensex firms, Power Grid, Bajaj Finance, Tata Steel, UltraTech Cement, Reliance Industries, Sun Pharma, Tech Mahindra and HDFC Bank were among the top gainers.
Mahindra & Mahindra, Hindustan Unilever, Axis Bank and ICICI Bank were among the laggards.
In Asian bourses, Seoul, Shanghai and Hong Kong were in red while Japan was in green.
US markets closed with gains on Friday.
Markets are likely to open on a strong note on Monday trading on the back of a rally in SGX Nifty after the US market closed higher on Friday.
“Benchmark Nifty likely to regain psychological level of 17,000 but intra-day gyration could be seen as traders beware of weakness in other Asian indices amid concerns over global financial health,” Prashant Tapase, said Senior VP (Research), Mehta Equities Ltd in its pre-market note.
The 30-share BSE benchmark closed 398.18 points or 0.69% lower at 57,527.10 on Friday. The Nifty closed 131.85 points, or 0.77%, down at 16,945.05.
Meanwhile, global oil benchmark Brent crude fell 0.09% to $4.92 per barrel.
Foreign portfolio investors (FPIs) offloaded equities worth Rs 1,720.44 crore on Friday, according to exchange data.