Sensex Gains Over 200 Points, Nifty Above 17,900; Auto, Financial Stocks Strong

On the global front, the Dow and S&P 500 edged higher on Friday and ended a turbulent week with slight increases, helped by gains in Tesla and Facebook that offset a tumble by Nike

Sensex Gains Over 200 Points, Nifty Above 17,900; Auto, Financial Stocks Strong

The domestic stock markets have opened on a strong note a day on Monday, a day after the Sensex scaled the 60,000 mark for the first time. At 9:18 am,the Sensex was trading at 60,252.45, higher by 213.82 points or 0.365 per cent and the NSE Nifty was at 17,921.55, up 71.25 points or 0.45 per cent. Financials and auto stocks were propelling the markets higher in early trading. 

The broader markets are trading mixed; the BSE Midcap index has edged lower, while the BSE Smallcap index has gained per cent. 

On the global front, the Dow and S&P 500 edged higher on Friday and ended a turbulent week with slight increases, helped by gains in Tesla and Facebook that offset a tumble by Nike. The Dow Jones rose 33.18 points, or 0.1 per cent, to 34,798, the S&P 500 gained 6.5 points, or 0.15 per cent, to 4,455.48 and Nasdaq Composite dropped 4.55 points, or 0.03 per cent, to 15,047.70.

Asian shares, however, got off to a cautious start on Monday as a jump in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks. MSCI's broadest index of Asia-Pacific shares outside Japan was flat, after three consecutive weeks of loss. Japan's Nikkei gained 0.4 per cent on hopes for further fiscal stimulus once a new prime minister is chosen.

The markets had a historic day on Friday as the BSE Sensex closed above the 60,000-mark. The BSE Sensex jumped 163.11 points to 60,048.47 and the Nifty rose 30.25 points to 17,853.20.

Financial and banking shares are going strong in early trading. Maruti Suzuki has zoomed 2 per cent to top the gainers list on the BSE. HDFC Bank, SBI, Bajaj Auto and M&M are the other significant gainers in the BSE pack. 

On the other hand, Nestle, Tech Mahindra, ITC and HCL Tech are bucking the strong trend to register losses of around 1 per cent each on the BSE.

The BSE market breadth is strong. Out of 2,825 stocks traded on the BSE, there are 1,586 advancing stocks as against 1,070 declines.