Sensex jumps 264 points in early trade, Nifty above 17,300

Maruti Suzuki India, Wipro, Tech Mahindra, Tata Steel, Infosys, Titan, Tata Consultancy Services and HCL Technologies Limited were the leading winners.

Maruti Suzuki India, Wipro, Tech Mahindra, Tata Steel, Infosys, Titan, Tata Consultancy Services and HCL Technologies Limited were the leading winners.

Stock benchmark Sensex rose 264 points in early trade on Monday, tracking gains by index majors Maruti, Infosys and TCS amid a broadly positive trend in global stock markets.

The 30-segment Sensex traded 264.02 points, or 0.45% higher, at 58,127.95. Likewise, the Nifty gained 66.3 points, or 0.38%, to 17,353.35.

Among Sensex members, the leading winners were Maruti Suzuki India, Wipro, Tech Mahindra, Tata Steel, Infosys, Titan, Tata Consultancy Services and HCL Technologies Limited.

In contrast, laggards included Asian Paints, Kotak Mahindra Bank, Power Grid and Hindustan Unilever Limited.

On Thursday, the 30-item BSE benchmark rose 1,047.28 points, or 1.84%, to end at 57,863.93. Likewise, the broader NSE Nifty was up 311.70 points, or 1.84%, to 17,287.05.

The stock markets were closed on Friday for Holi.

“US markets closed positive on Friday, NASDAQ closed 2 percent higher. The majority of Asian markets also traded in green on Monday,” said Mohit Nigam, Head – PMS, Hem Securities.

The Shanghai stock exchange traded marginally higher, while Hong Kong traded lower on the session. Tokyo was closed for a holiday.

Stock exchanges in the US closed on Friday with significant gains.

Meanwhile, international oil benchmark Brent rose 2.71% to $110.8 a barrel.

Overseas institutional investors were net buyers after buying 2,800.14 crore of shares on Thursday, according to stock market data.

“Nifty is back 10 percent from the top after the 15 percent correction. This resilience of the market even in the midst of uncertainties and challenges is of great importance from an investor perspective.”

“In the near term, the biggest upside for the market is that FPIs become buyers. Crude oil, back at $110, is a headwind,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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