Sensex Rises Over 300 Points, Nifty Tops 11,300 Amid Gains Across Sectors

Asian stocks held tight ranges on Monday amid worries over flaring tensions between the United States and China.

Sensex Rises Over 300 Points, Nifty Tops 11,300 Amid Gains Across Sectors

Larsen & Toubro, HDFC and HDFC Bank were the top boosts for the Sensex

Highlights

  • Sensex, Nifty open higher amid gains across sectors
  • Cipla, Larsen & Toubro top gainers
  • Asian share markets swing between gains and losses

Domestic stock markets started Monday's session on a positive note amid a cautious trend across Asian peers, as worries over flaring tensions between the US and China weighed on sentiment although signs of a recovery in industrial activity in the world's second-largest economy capped losses. The S&P BSE Sensex index rose as much as 0.85 per cent - or 324.24 points - to touch 38,364.81 in early trade, and the broader NSE Nifty 50 benchmark climbed to as high as 11,311.55, up 0.87 per cent - or 97.5 points - from its previous close. 

At 9:22 am, the Sensex traded 266.75 points - or 0.70 per cent - higher at 38,307.32 while the Nifty was up 85.65 points - or 0.76 per cent - at 11,299.70. 

Cipla, Larsen & Toubro, Shree Cement, Bajaj Finance and Mahindra & Mahindra, trading between 2.09 per cent and 6.09 per cent higher, led the 40 gainers in the 50-scrip Nifty basket of shares. 

On the other hand, Hindalco, Nestel, Bharat Petroleum, Tata Steel and Hero MotoCorp, down between 0.29 per cent and 0.82 per cent each, were the top Nifty losers.

Larsen & Toubro, HDFC and HDFC Bank together contributed around 100 points to the gain in Sensex.

MSCI's broadest index of Asia-Pacific shares outside Japan fluctuated in a tight range between gains and losses, but remained below a more than six-month month peak touched last week. It was last seen trading 0.18 per cent lower, while Japan's Nikkei 225 index was down 0.39 per cent.

The E-Mini S&P 500 futures were up 0.15 per cent at the time, indicating a positive start for US markets on Monday.

Last Friday, the Sensex ended a volatile session on a flat note, closing 15.12 points higher at 38,040.57, and the Nifty settled at 11,214.05, up 13.90 points from its previous close.