Sensex trading 264 points higher at 58,128; Nifty up 66 points to 17,353

Equity benchmark Sensex jumped 264 points in early trade on Monday, tracking gains in index majors Maruti, Infosys and TCS amid a largely positive trend in global equity markets.

The 30-share Sensex was trading 264.02 points or 0.45 per cent higher at 58,127.95. Likewise, the Nifty gained 66.3 points or 0.38 per cent to 17,353.35.

Among Sensex constituents, Maruti Suzuki India, Wipro, Tech Mahindra, Tata Steel, Infosys, Titan, Tata Consultancy Services and HCL Technologies Limited were the lead gainers.

In contrast, Asian Paints, Kotak Mahindra Bank, Power Grid and Hindustan Unilever Limited were among the laggards.

On Thursday, the 30-share BSE benchmark rallied 1,047.28 points or 1.84 per cent to finish at 57,863.93. Likewise, the broader NSE Nifty surged 311.70 points or 1.84 per cent to 17,287.05.

Equity markets were closed on Friday on account of Holi.

“US markets closed on a positive note on Friday with NASDAQ closing 2 per cent higher. The majority of the Asian markets are also trading in green in Monday’s trade,” said Mohit Nigam, Head – PMS, Hem Securities.

Equity exchange in Shanghai was trading marginally higher, while Hong Kong was quoting lower in mid-session deals. Tokyo was closed for a holiday.

Stock exchanges in the US closed with significant gains on Friday.

Meanwhile, international oil benchmark Brent crude jumped 2.71 per cent to USD 110.8 per barrel.

Foreign institutional investors were net buyers after they bought shares worth ₹2,800.14 crore on Thursday, according to exchange data.

“Nifty after the 15 per cent correction from the peak has climbed back by 10 per cent. This resilience of the market even amid uncertainties and challenges is significant from the investors’ perspective.

“For the short-term, the biggest positive for the market is the FPIs turning buyers. Crude again back at USD 110 is a headwind,” according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.