Mumbai: Equity benchmark Sensex rose over 110 points in early trade on Monday, tracking gains in major indices M&M, Reliance Industries and HDFC twins amid a mixed trend in global markets. After opening on a weak note, the 30-share BSE benchmark rose 111.88 points or 0.19% to 58,499.81 in morning trades. The broader NSE Nifty rose 25.70 points, or 0.15%, to 17,423.20.
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Mahindra & Mahindra was the top gainer in the Sensex pack, rising over 2%, followed by IndusInd Bank, NTPC, Reliance Industries, HDFC Bank and Maruti. State Bank of India, Infosys, Tata Consultancy Services and ICICI Bank were among the major laggards. In Asia, markets in Tokyo and Shanghai were trading higher, while those in Seoul and Hong Kong were down.
US markets mostly closed at lower levels on Friday. On Friday, the BSE benchmark settled 89.13 points or 0.15% higher at 58,387.93. Nifty closed 15.50 points or 0.09% higher at 17,397.50.
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Meanwhile, international oil benchmark Brent crude rose 0.21% to $95.12 a barrel. Foreign institutional investors (FIIs) remained net buyers in the capital market as they bought shares worth Rs 1,605.81 crore on Friday, according to exchange data. This has come as a big relief to the Indian equity market which has been battling uncertainty and money outflow for a long time. Significantly, over the past few months, FIIs had pulled out huge amounts of money from the Indian market due to uncertainty in the equity market and geopolitical conditions.