Indian equity benchmarks traded in green on Monday, supported by strong buying in banking and IT stocks. BSE Sensex climbed 200. 80 points (0. 25%) to 81,407. 97, while the NSE Nifty 50 advanced 62. 20 points (0. 25%) to 24,956. 45.
Earlier at 9:37 am, the Sensex was up 94.83 points at 81,302.00, and the Nifty gained 28.85 points to trade at 24,923.10.
Among the Sensex gainers were Bajaj Finance, Kotak Mahindra Bank, Bajaj Finserv, Axis Bank, TCS, HCL Tech, HDFC Bank, and Eternal, which led the rally. While, Power Grid, Adani Ports, Tata Steel, and Tata Motors were among the major laggards in early trade.
The positive momentum in domestic markets mirrors upbeat global cues and investor optimism in the banking sector, PTI reported.
Earlier on Friday, both indices had ended higher for the second straight session, supported by strong buying in metal stocks and positive global sentiment.
The Nifty 50 had advanced 57.95 points (0.23%) to close at 24,894.25, while the Sensex climbed 223.86 points (0.28%) to finish at 81,207.17, after swinging between 80,649.57 and 81,251.99 during the session.
In Asia, Japan’s Nikkei 225 index jumped over 4%, hitting a record high after the ruling Liberal Democratic Party elected Sanae Takaichi, an ultra-conservative and close ally of late leader Shinzo Abe, as its new head, positioning her to become Japan’s first female prime minister.
Hong Kong’s Hang Seng slipped marginally by 0.1% to 27,119.36, while Australia’s S&P/ASX 200 was largely flat at 8,984.70. Markets in China, South Korea, and Taiwan remained closed for holidays.
Meanwhile, the Japanese yen weakened against the US dollar, sliding to 149.79 per dollar from 149.33, as traders anticipated higher government spending under Takaichi’s leadership.
Oil prices also strengthened in early Monday trade after OPEC+ announced a smaller-than-expected increase in output. Brent crude rose 1% to $65.16 per barrel, while US West Texas Intermediate (WTI) climbed 1% to $61.46.
