Domestic equity markets on Monday started the week on a strong as they tracked Asian peers and were lifted by bank and metal stocks mainly.
The S&P BSE Sensex index opened 553.93 points higher at 34,841.17, and the broader NSE Nifty 50 benchmark started the day at 10,326.75, up 184.6 points from the previous close.
Sensex had ended 306.54 points or 0.90% higher at 34,287.24 and the Nifty settled at 10,142.15, up 113.05 points or 1.13% on Friday.
Nifty had risen 5.9% and the Sensex climbed 5.75% last week with both the indices recording their second straight weekly gain.
At 9:35am, the Sensex traded 597.14 points or 1.64% higher at 34,849.50 and broader Nifty was up 152.60 points or 1.50% at 10,294.75.
Reliance Industries hit a new lifetime high after the conglomerate announced 1.16 per cent stake sale in Jio Platforms to Abu Dhabi Investment Authority for Rs 5,683.50 crore.
Elsewhere, equities in Asia, as well as US stock futures, advanced on Monday amid hopes of a quick economic recovery after many weeks of lockdowns aimed at controlling the coronavirus pandemic.
MSCI’s broadest index of Asia Pacific shares outside Japan was last seen trading 0.43% higher, while Japan’s Nikkei 225 benchmark was up 0.93%. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s KOSPI indices were up 0.45%, 0.50% and 0.16% respectively, at the time.
{{/usCountry}}MSCI’s broadest index of Asia Pacific shares outside Japan was last seen trading 0.43% higher, while Japan’s Nikkei 225 benchmark was up 0.93%. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s KOSPI indices were up 0.45%, 0.50% and 0.16% respectively, at the time.
{{/usCountry}}The E-Mini S&P 500 futures rose 0.30% in early Asian trade, which pointed to a positive opening for the US markets on Monday.
(With agency inputs)