The Sensex and Nifty edged up further in the morning session on Monday. Sensex was up 737 points or 1.5 per cent at 49,837, while the Nifty gained 183 points or 1.26 per cent at 14,712.
All the Sensex stocks except for Bharti Airtel were up. The top gainers were M&M, Tech Mahindra, Power Grid, ONGC and Titan.
According to an agency report, the Sensex rebounded over 500 points in the opening session on Monday as investors cheered the domestic economy returning to growth in the October-December period after two quarters of contraction.
On Friday, the BSE Sensex had crashed 1,939.32 points or 3.80 per cent to end at 49,099.99 – its worst one-day fall since May 4 last year.
Similarly, the broader NSE Nifty had plunged 568.20 points or 3.76 per cent to close the session at 14,529.15 – the biggest single-day drop since March 23 last year.
Meanwhile, foreign investors sold equities worth Rs 8,295.17 crore on a net basis on Friday, as per exchange data.
Meanwhile, the global oil benchmark Brent crude was trading 0.58 per cent lower at $65.59 per barrel.
Analysts said, the high-frequency indicators were pointing towards the fact that the domestic economy is slowly entering the recovery path.
After two consecutive quarters of contraction, the Indian economy has finally entered an expansionary path.
The Gross Domestic Product (GDP) grew 0.4 per cent in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on Friday showed. (with inputs from PTI)