Bharti Airtel was the top gainer in the Sensex pack followed by HCL Tech, Tata Steel, Tech Mahindra, Infosys and Axis Bank.
Equity benchmark Sensex jumped over 500 points in early trade on Monday, tracking gains in major indices Infosys, Bharti Airtel and HDFC amid a positive trend in global markets.
The 30-share index was trading 506.20 points or 0.85% higher at 59,813.13 in opening deals. Similarly, the Nifty rose 158.40 points, or 0.90%, to 17,830.05.
Bharti Airtel was the top gainer in the Sensex pack, rising 3%, followed by HCL Tech, Tata Steel, Tech Mahindra, Infosys and Axis Bank.
On the other hand, M&M, Bajaj Finserv, Dr Reddy’s, HUL and Reliance Industries were among the laggards.
In the previous session, the 30-share index was down 677.77 points or 1.13% at 59,306.93 and the Nifty was down 185.60 points or 1.04% at 17,671.65.
Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 5,142.63 crore on Friday, according to exchange data.
Reliance Securities Head-Strategy Binod Modi said it seems the markets have entered a sharp sell-off mode as there are no positive surprises from the premium valuations and earnings of the markets, especially on investor sentiments due to higher input costs. has been affected.
“However, despite this, the overall performance so far has been good with sharp growth in revenues, leading to double-digit growth in earnings. In our view, the market may remain volatile with downside volatility in the near term. and investors will track the pricing power of the industries,” he said.
Elsewhere in Asia, shares in Shanghai, Seoul and Tokyo were trading with gains in mid-session deals, while Hong Kong was in the red.
Meanwhile, international oil benchmark Brent crude fell 0.33% to $83.44 a barrel.
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