Sensex Surges Over 600 Points Amid Positive Global Cues, Nifty Trades Above 15,850

Indian equity benchmarks on Monday traded higher in opening deals, extending their gains for the third straight session amid positive cues from the global markets. Asian stocks gained amid improved risk sentiment after Wall Street rebounded strongly at the end of last week.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a higher start for the domestic indices.

The 30-share BSE Sensex climbed 616 points or 1.17 per cent to 53,344 in early session, while the broader NSE Nifty moved 186 points or 1.19 per cent up to trade at 15,886.

Mid- and small-cap shares were trading on a strong note today as Nifty Midcap 100 rose 1.10 per cent and small-cap surged 1.18 per cent.

The 30-share BSE Sensex climbed 616 points or 1.17 per cent to 53,344 in early session, while the broader NSE Nifty moved 186 points or 1.19 per cent up to trade at 15,886.

Mid- and small-cap shares were trading on a strong note today as Nifty Midcap 100 rose 1.10 per cent and small-cap surged 1.18 per cent.

All the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty IT and Nifty Metal were outperforming the NSE platform by rising as much as 2.67 per cent and 1.63 per cent, respectively.

On the stock-specific front, Tech Mahindra was the top Nifty gainer as the stock soared 4 per cent to Rs 1,020.45. HCL Tech, Infosys, JSW Steel and L&T were also among the gainers.

The overall market breadth was positive as 1,219 shares were advancing while 286 were declining on BSE.

All the Sensex constituents were trading with gains. On the 30-share BSE index, TechM, HCL Tech, Infosys, L&T, Wipro, Sun Pharma, Bajaj Finance, IndusInd Bank, TCS, Tata Steel, Bajaj Finserv and Dr Reddy's were among the top gainers.

Also, shares of Life Insurance Corporation of India (LIC), the country's biggest insurer and largest domestic financial investor, were up 0.39 per cent to trade at Rs 664.25.

Sensex had jumped 462 points or 0.88 per cent to close at 52,728 on Friday, while Nifty had moved 143 points or 0.92 per cent up to settle at 15,699.