Sensex Gains 250 Points, Metals Lead

The BSE Sensex and Nifty rose over 0.8 per cent after opening with minor gains on Monday. The Sensex gained as much as 250 points to 27,507, while the Nifty surged nearly 80 points to a high of 8,279.

Global cues remained positive. US markets ended higher on Friday with both Dow and S&P 500 closing at record highs. Asian markets were mostly positive on Monday.

Sentiment also turned positive as foreign investors were net buyers of Indian equities on Friday after twelve consecutive days of selling.

Metal counters led the gains on Monday. JSPL was the top gainer on Nifty with 2.8 per cent gains followed by Sesa Sterlite, which was up over 1.5 per cent. The BSE Metal index was up over 1 per cent.

DLF, Power Grid and Hindalco Industries were the other gainers on Nifty up around 1 per cent each.

As of 9.21 a.m. all the 50 shares in Nifty traded positive. The Sensex was up 229 points at 27,471.6, while the 50-share Nifty gained 0.82 per cent at 8,267.7.