Equity benchmark BSE Sensex jumped over 100 points in opening session on Monday tracking gains in banking, FMCG and IT stocks. The 30-share BSE index was trading 109.18 points or 0.26 per cent higher at 41,684.32, and the broader NSE Nifty rose 27.60 points or 0.23 per cent to 12,273.40. ITC was the top gainer in the Sensex pack, rising up to 1.50 per cent, followed by Mahindra and Mahindra, HDFC Bank, Kotak Bank, TCS, Maruti and Sun Pharma.
On the other hand, RIL was the top loser, shedding up to 0.76 per cent. SBI, HUL, Tata Steel and Infosys were also trading in the red. In the previous session, the 30-share gauge ended 411.38 points, or 1 per cent, higher at 41,575.14. Similarly, the broader NSE Nifty closed 119.25 points, or 0.98 per cent, up at 12,245.80.
Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 81.37 crore, while domestic institutional investors purchased shares worth Rs 125.77 crore on Friday, data available with stock exchange showed.
According to experts, traders appeared keen on creating fresh positions post expiry of December series derivatives contracts. Domestic market is awaiting cues from the budget after Finance Minister Nirmala Sitharaman on Saturday said that honest commercial decisions taken by bankers will be protected.
In a meeting with heads of the public sector banks (PSBs), also attended by the CBI Director, she assured the bankers that a distinction would be made between genuine commercial failures and culpability.
Bourses in Shanghai and Hong Kong were trading significantly higher in their respective early sessions, while those in Tokyo and Seoul were in the red.
Brent futures, the global oil benchmark, rose 0.19 per cent to USD 67 per barrel, after the US has carried out air strikes against a pro-Iran militant group in Iraq, killing 15 fighters. The US strikes came after a barrage of 30 or more rockets was fired on Friday at the K1 Iraqi military base in Kirkuk, an oil-rich region north of Baghdad, killing a US civilian contractor and wounding four US service members as well as Iraqi security forces. Meanwhile, the rupee appreciated 2 paise to 71.32 against the US dollar in morning session.
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Source: Financial Express