Indices Rise In Early Trade As Strong Earnings Lift Mood

Equity benchmark indices Sensex and Nifty climbed in early trade on Monday amid mixed global cues.

The 30-share Sensex jumped 179.16 points or 0.30 per cent to 59,834.22 points, while the broader 50-share Nifty rose 46.75 points or 0.27 per cent to 17,670.80 points.

In the Sensex pack, 13 stocks were trading in the green, while the remaining 17 shares were in the negative territory.

The initial gains were led by buying in the counters of Reliance Industries and ICICI Bank, among others. Reliance Industries, ICICI Bank, Wipro and State Bank of India rose more than 1 per cent.

Among the Nifty shares, 23 were trading in the positive zone.

In the Asia Pacific region, stocks were showing mixed trends as Japan’s Nikkei 225 was trading in the positive territory, while Hong Kong’s Hang Seng and China’s SSE Composite Index were trading lower.

On Friday, the US market as well as most of the European benchmark indices closed with gains.

In a pre-market open note, Deepak Jasani, Head of Retail Research at HDFC securities, said Indian markets could open mildly higher, despite mixed Asian markets today and in line with higher US markets on Friday.

Sensex and Nifty had closed on a mixed note on Friday, with the 30-share benchmark index closing marginally higher, while the broader Nifty ended the day in the red.

During the week, investors will also be keeping a close watch on corporate earnings.

Foreign Portfolio Investors (FPIs) were net sellers on Friday as they offloaded domestic equities worth Rs 2,116.76 crore, as per exchange data.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)