Indian benchmark equity indices opened in the green on Monday, snapping last week’s losing trend, supported by positive cues from global markets, particularly strong buying in the US and Chinese equities.
At around 9.30 a.m., the Sensex rose 507 points, or 0.60 per cent, to 84,436, while the Nifty gained 165 points, or 0.64 per cent, to trade at 26,132.
Broader market indices moved in line with the benchmarks, with the Nifty Midcap 100 advancing 0.58 per cent and the Nifty Smallcap 100 rising 0.51 per cent.
Hindalco, Tech Mahindra and TCS were among the top gainers in the Nifty pack, while Asian Paints, Bajaj Finance, Max Healthcare and Cipla were among the laggards.
All sectoral indices on the NSE were trading in positive territory, led by metal, IT and media stocks, which rose about 1.48 per cent, 1.23 per cent and 0.77 per cent, respectively.
US markets ended mostly higher in the previous session, with the Nasdaq surging 1.31 per cent, the S&P 500 rising 0.88 per cent and the Dow Jones gaining 0.38 per cent.
Asian markets traded higher on Monday as investors assessed the People’s Bank of China’s decision to keep key loan prime rates unchanged. The central bank maintained both the one-year and five-year loan prime rates, which influence most new and existing loans and mortgages.
In Asia, China’s Shanghai Composite advanced 0.64 per cent, while the Shenzhen index fell 1.36 per cent. Japan’s Nikkei climbed 1.75 per cent, Hong Kong’s Hang Seng added 0.29 per cent, and South Korea’s Kospi rose 1.72 per cent.
On Friday, foreign institutional investors sold equities worth Rs 2,387 crore, while domestic institutional investors were net buyers of equities worth Rs 5,200 crore.
— IANS
