Global optimism supported equity benchmarks early Monday. Early trade saw the 30-share BSE Sensex increase 503.47 points to 71,204.14. Also, the Nifty climbed 178.55 points to 21,531.15.
Sun Pharma, Axis Bank, Kotak Mahindra Bank, Power Grid, Larsen & Toubro, NTPC, ICICI Bank, HDFC Bank, and Reliance Industries gained the most on the Sensex. Infosys, ITC, Mahindra, and JSW Steel lag.
Seoul, Tokyo, Shanghai, and Hong Kong traded well. US markets were mixed Friday. Brent gained 0.51% to USD 83.98 per barrel.
Rupee falls against dollar
The rupee declined 4 paise to 83.15 per dollar on Monday due to increased crude oil prices and importer currency demand. Forex traders say foreign money outflows opposed strong domestic equities, limiting rupee range. The rupee fell 4 paise to 83.15 against the dollar at the interbank foreign exchange.
Conclusion
The BSE Sensex and Nifty climbed 503.47 and 21,531.15 points early Monday. Sun Pharma, Axis Bank, Kotak Mahindra, Power Grid, Larsen & Toubro, NTPC, ICICI Bank, HDFC Bank, and Reliance Industries gained. Japanese, Chinese, Hong Kong, and Korean markets were positive. Rupee declined 4 paise vs dollar.
