Sensex, Nifty rally on positive cues from global markets

The Indian equities markets benchmark indices rallied on Monday amid positive cues from the global markets. The benchmark Sensex jumped 400 points while Nifty 50 gained 120 points.

There is strong buying support in banking, auto, and metal stocks.

The 30-stock S&P BSE Sensex of the Bombay Stock Exchange opened sharply higher at 59,103.72 points and surged to a high of 59,203.37 points in the early morning trade. At around 10.40 am, the Sensex was trading at 59,046.19 points, 0.44 per cent or 259.52 points higher than the previous session close at 58,786.67 points.

The broader Nifty 50 of the National Stock Exchange (NSE) also opened sharply higher at 17,619.10 points and touched a high of 17,639.50 points. At around 10.40 the Nifty 50 was trading at 17,600.55 points, 0.51 per cent higher than the previous session close at 17,511.30 points.

Bulls reigned on the Dalal Street in early trade on Monday riding on positive cues from the global equities markets. The Asia-Pacific markets rallied on Monday. Japan's Nikkei gained close to one per cent. Other major indices also rallied.

Tech Mahindra surged over 3 per cent. Other major gainers include Axis Bank up 2.38 per cent to Rs. 704; Power Grid 2.07 per cent higher at Rs. 206.80; Maruti Suzuki 1.73 per cent higher at Rs. 7555; Sun Pharma 1.50 per cent higher at Rs. 773 and Asian Paints 1.19 per cent higher at Rs.3321.

Only five of the 30 stocks that are part of Sensex were trading in the red. Bajaj Finance 2.04 per cent lower at Rs. 7299.05; Reliance Industries 0.97 per cent lower at Rs. 2435.30; Nestle India 0.82 per cent lower at Rs. 19116.25 and Bajaj Finserv 0.74 per cent lower at Rs. 17591.55 were among the major Sensex losers.

( With inputs from ANI )

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