Indices erase early gains; Sensex up 200 points, Nifty above 9,300

IRCTC rose 5% after the government said that 15 sets of trains will be started from May 12. Reliance Industries was also up over 3% after fixing May 14 as the record date for the rights issue.

Indian indices climbed off the morning gains but were still trading higher on Monday lifted by auto stocks.

Out of the 30 Sensex stocks, 28 scrips were trading in the green (PTI)

At 12:35pm, S&P BSE Sensex was at 31,873.11-mark and up 230.41 or 0.73% and the Nifty50 index was around 9,321 levels.

Out of the 30 Sensex stocks, 28 scrips were trading in the green, with IndusInd Bank as top gainer up 3.11%, followed by Maruti Suzuki and Bajaj Finance.

Nestle India and ICICI Bank were the top Sensex laggards. All the 11 sectoral indices were trading in positive territory.

IRCTC rose 5% after the government said that 15 sets of trains will be started from May 12. Reliance Industries was also up over 3% after fixing May 14 as the record date for the rights issue.

Besides, IndusInd Bank and Maruti Suzuki were also up 2% each.

The trend among Nifty sectoral indices was mixed, led by Nifty Auto and Nifty IT.

The Nifty Auto index gained 2.34% led by Motherson Sumi, Tata Motors and Bharat Forge. Nifty FMCG index was also up 1.13% or 303 points with Tata Consumer, Emami and Godrej Consumer Properties as top index gainers.

Finance Minister Nirmala Sitharaman’s discussion with PSU banks’ chiefs, which was supposed to take place today, has been postponed for later this week.