Mumbai: Equity benchmark Sensex rallied over 300 points in early trade on Monday tracking massive buying momentum in Asian peers and foreign fund inflows. Also Read - Sensex Loses Over 400 Points, Nifty Below 11,000 Mark
After touching a high of 36,389.01, the 30-share index was trading 310.29 points, or 0.86 per cent, higher at 36,331.71, while the NSE Nifty rose 99.70 points, or 0.94 per cent, to 10,707.05. Also Read - Market News Today: Sensex, Nifty Begin Week With Marginal Gains, Asian Shares in Focus
IndusInd Bank was the top gainer in the Sensex pack, advancing around 4 per cent, followed by HDFC Bank, Bajaj Finance, Tech Mahindra, SBI, Axis Bank, ITC and Tech Mahindra. Also Read - Stock Market Today: Sensex Plunges 300 Pts, Nifty Below 11,200 in Early Trade Amid Global Equity Selloff
On the other hand, Bajaj Auto, PowerGrid, Titan and HUL were among the laggards.
In the previous session, the BSE barometer settled 177.72 points, or 0.50 per cent, higher at 36,021.42, and the broader Nifty rose 55.65 points, or 0.53 per cent, to end at 10,607.35.
Foreign institutional investors turned net buyers in the capital market on Friday, purchasing equities worth Rs 857.29 crore, provisional exchange data showed.
According to traders, domestic indices rallied on positive sentiment led by hopes of a COVID-19 vaccine, improving macroeconomic conditions and massive buying-interest in global benchmarks despite surging coronavirus cases across the world.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul soared up to 4 per cent on hopes of more government stimulus to support economic recovery.
Meanwhile, international oil benchmark Brent crude futures rose 0.63 per cent to USD 43.07 per barrel.