Sensex jumps 380 points, Nifty at 4-month high on strong global cues
Hindustan Unilever was the biggest loser in the pack, down 0.42 per cent.
NEW DELHI: Buoyed by strong global cues and buying by foreign institutional investors, domestic equity indices climbed in early Monday trading even as Covid-19 cases continued to mount.
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 857.29 crore on Friday. Meanwhile, the total number of Covid-19 patients in India reached nearly 7 lakh while fatalities climbed above 19,700 levels.
At 09.22 am, BSE flagship Sensex was at 36,400, up 379 points or 1.05 per cent while NSE benchmark Nifty gained 124 points or 1.02 per cent to 10,732. Nifty rose above 10,700 for the first time since March 9. Banks, financial services and metal stocks were in high demand while pharma counters saw some pressure.
In the 30-share pack Sensex, buyers came back to IndusInd Bank as the scrip was the biggest gainer, up 3.07 per cent at Rs 502.20, followed by Bajaj Finance, HDFC Bank, ITC, Tech Mahindra and ONGC that gained in the range of 1-3 per cent.
Hindustan Unilever was the biggest loser in the pack, down 0.42 per cent followed by Bajaj Auto that was the only other member of the losers club.
Broader market indices lagged headline peers as Nifty Smallcap gained 0.75 per cent while Nifty Midcap added 0.74 per cent. Broadest index on NSE, Nifty 500 was up 0.83 per cent.
All sectoral indices on NSE were trading with gains. Nifty Private Bank was the biggest gainer, up 1.81 per cent. Nifty Bank, Nifty Financial Service and Nifty Realty were among other top gainers.
Globally, Asian shares scaled four-month peaks as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-openings across the United States.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1 per cent to its highest since February.
Eyes were on Chinese blue chips, which jumped 3 per cent, on top of a 7 per cent gain last week, to their loftiest level in five years. Even Japan's Nikkei, which has lagged with a soft domestic economy, managed a rise of 1.3 per cent.
E-Mini futures for the S&P 500 also firmed 0.8 per cent, while EUROSTOXX 50 futures added 1.8 per cent and FTSE futures 1.5 per cent.
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 857.29 crore on Friday. Meanwhile, the total number of Covid-19 patients in India reached nearly 7 lakh while fatalities climbed above 19,700 levels.
At 09.22 am, BSE flagship Sensex was at 36,400, up 379 points or 1.05 per cent while NSE benchmark Nifty gained 124 points or 1.02 per cent to 10,732. Nifty rose above 10,700 for the first time since March 9. Banks, financial services and metal stocks were in high demand while pharma counters saw some pressure.
In the 30-share pack Sensex, buyers came back to IndusInd Bank as the scrip was the biggest gainer, up 3.07 per cent at Rs 502.20, followed by Bajaj Finance, HDFC Bank, ITC, Tech Mahindra and ONGC that gained in the range of 1-3 per cent.
Hindustan Unilever was the biggest loser in the pack, down 0.42 per cent followed by Bajaj Auto that was the only other member of the losers club.
Broader market indices lagged headline peers as Nifty Smallcap gained 0.75 per cent while Nifty Midcap added 0.74 per cent. Broadest index on NSE, Nifty 500 was up 0.83 per cent.
All sectoral indices on NSE were trading with gains. Nifty Private Bank was the biggest gainer, up 1.81 per cent. Nifty Bank, Nifty Financial Service and Nifty Realty were among other top gainers.
Globally, Asian shares scaled four-month peaks as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-openings across the United States.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1 per cent to its highest since February.
Eyes were on Chinese blue chips, which jumped 3 per cent, on top of a 7 per cent gain last week, to their loftiest level in five years. Even Japan's Nikkei, which has lagged with a soft domestic economy, managed a rise of 1.3 per cent.
E-Mini futures for the S&P 500 also firmed 0.8 per cent, while EUROSTOXX 50 futures added 1.8 per cent and FTSE futures 1.5 per cent.