Sensex surges over 300 points, Nifty above 12,000-mark on positive global cues; Infosys, Bharti Airtel among top gainers

  • The 30-share index was trading 255.18 points, or 0.63%, higher at 40,614.59 at around 10.45 am

  • Bajaj Auto fell up to 0.76%, ICICI Bank 0.75%, HCL Tech 0.70%, Asian Paints 0.59% and ONGC slipped 0.60%

  • Foreign institutional investors bought shares worth Rs 305.72 crore in the capital market in the previous session

Equity benchmark indices were on an upward swing during the early morning trade on Monday amid global cues and reports of some progress in the US-China trade dispute.

Market benchmark BSE Sensex jumped over 300 points while the broader Nifty went past 12,000-mark in the late morning trade on Monday tracking gains in index-heavyweights Infosys, Reliance Industries and Bharti Airtel.

The 30-share index was trading 324.87 points, or 0.80 percent, higher at 40,684.28 at around 10.45 am. Similarly, the broader Nifty rose 94.70 points, or 0.79 percent, to 12,009.10.

 Sensex surges over 300 points, Nifty above 12,000-mark on positive global cues; Infosys, Bharti Airtel among top gainers

Representative image. Reuters

Top gainers in the Sensex pack included Tata Steel which rose up to 2.48 percent, Bharti Airtel 2.30 percent, Infosys 1.33 percent, Sun Pharma 1.55 percent, Vedanta 1.27 percent and RIL 0.82 percent.

On the other hand, Bajaj Auto fell up to 0.76 percent, ICICI Bank 0.75 percent, HCL Tech 0.70 percent, Asian Paints 0.59 percent and ONGC slipped 0.60 percent.

All sectoral indices at the National Stock Exchange except for media were in the green with Nifty metal up by 2.17 percent and realty by 1.36 percent.

Realty major DLF Ltd added gains of 2.9 percent at Rs 222.80 per share while Oberoi Realty edged higher by 0.8 percent.

On Friday, the Sensex ended 215.76 points, or 0.53 percent, lower at 40,359.41. The Nifty settled 54 points, or 0.45 percent, down at 11,914.40.

Foreign institutional investors bought shares worth Rs 305.72 crore in the capital market in the previous session, while domestic institutional investors sold equities worth Rs 177.37 crore, data available with stock exchange showed.

Meanwhile, Asian shares staged a cautious rally on Monday as investors dared to hope for some progress in the endless Sino-U.S. trade dispute, while the outperformance of recent US economic data gave the dollar a leg up on its peers.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS bounced 0.7%, after losing 0.4% last week.

Japan's Nikkei firmed 0.7 percent, while Australian stocks rose 0.5 percent and Shanghai blue chips 0.3 percent.

E-Mini futures for the S&P 500 added 0.2 percent, while EUROSTOXX 50 futures gained 0.6 percent. FTSE futures firmed 0.3 percent.

On Saturday, US national security adviser Robert O’Brien said an initial trade agreement with China is still possible by the end of the year, though he warned Washington would not turn a blind eye to what happens in Hong Kong.

The comments add to worries that a Chinese crackdown on anti-government protests in Hong Kong could further complicate the talks.

Over the weekend, pro-democracy candidates in Hong Kong romped to a landslide and symbolic majority in district council elections in the embattled city.

On the currency front, the rupee depreciated marginally against the US dollar to trade at 71.72 in early session. The rupee fell 2 paise to 71.73 against the US dollar in early trade, amid increased demand of the greenback by banks and importers.

Strengthening crude oil prices also impacted the rupee movement in the market, forex dealers said. However, a higher opening in domestic equity markets and persistent foreign fund inflows restricted the rupee's fall, they added.

Brent futures, the global oil benchmark, rose 0.21 percent to $63.52 per barrel.

With inputs from agencies

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Updated Date: Nov 25, 2019 11:37:57 IST


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