Manjil Das, INN/Chennai
Twitter-@SGiggle29 @Infodeaofficial
Index majors HDFC, Reliance Industries, and Infosys led the way higher in early trade on Monday, as global equity markets rallied.
The Nifty was up 101.65 points or 0.64 per cent to 15,864.70 in opening trades while the 30-share index climbed 333.69 points or 0.63 per cent.
An increase of about 2% was recorded by the leading gainers on the BSE Sensex, followed by Axis Bank, Bharti Airtel, HDFC, and Maruti Suzuki.
Tech Mahindra, Sun Pharma, NTPC, PowerGrid, and Dr. Reddy’s, on the other hand, were among the laggards in the rankings.
The Nifty dropped 15.40 points or 0.10 per cent to 15,763.05. The Sensex fell 66.23 points or 0.13 per cent to end at 52,586.84 in the previous session.
Foreign institutional investors (FIIs) sold shares worth 3,848.31 crore on Friday, according to preliminary data from the stock exchange.
According to Reliance Securities’ Head of Strategy Binod Modi, “Except for financials, June quarter earnings have been positive.”
Furthermore, the Federal Reserve’s continued dovish monetary policy position, the low likelihood of a reversal of monthly bond purchases in the near to medium term, and the recent weakening of the dollar index bode favourably for developing economies, including India, according to Modi.
In mid-session trades elsewhere in Asia, bourses in Shanghai, Seoul, Tokyo, and Hong Kong were trading with big gains.
Meanwhile, Brent crude, the international oil benchmark, fell 1.14 percent to USD 74.55 a barrel.
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