Advertisement
Monday, Sep 27, 2021
Outlook.com
Outlook.com

Sensex Jumps Over 300 Points In Early Trade; Nifty Tops 15,850

Titan was the top gainer in the Sensex pack, rising around 2 per cent, followed by Axis Bank, Bharti Airtel, HDFC, Maruti, Bajaj Finserv, Infosys and Reliance Industries.

Sensex Jumps Over 300 Points In Early Trade; Nifty Tops 15,850
The 30-share index was trading 333.69 points or 0.63 per cent higher at 52,920.53 in initial deals, while the broader NSE Nifty advanced 101.65 points or 0.64 per cent to 15,864.70. | Representational Image
Sensex Jumps Over 300 Points In Early Trade; Nifty Tops 15,850
outlookindia.com
2021-08-02T10:54:44+05:30

Equity benchmark Sensex surged over 300 points in early trade on Monday, tracking gains in index majors HDFC, Reliance Industries and Infosys amid a positive trend in global equities.

The 30-share index was trading 333.69 points or 0.63 per cent higher at 52,920.53 in initial deals, while the broader NSE Nifty advanced 101.65 points or 0.64 per cent to 15,864.70.

Titan was the top gainer in the Sensex pack, rising around 2 per cent, followed by Axis Bank, Bharti Airtel, HDFC, Maruti, Bajaj Finserv, Infosys and Reliance Industries.

On the other hand, Tech Mahindra, Sun Pharma, NTPC, PowerGrid and Dr Reddy’s were among the laggards.

In the previous session, Sensex slipped 66.23 points or 0.13 per cent to close at 52,586.84, while the broader NSE Nifty dipped 15.40 points or 0.10 per cent to 15,763.05.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 3,848.31 crore on Friday, as per provisional exchange data.

"Barring financials, June quarter earnings so far have been encouraging and most companies succeeded to beat consensus estimates, which offered comfort and aided to restrict sharp fall despite selling pressure in global equities," said Binod Modi Head-Strategy at Reliance Securities.

Further, persistent soft monetary policy stance of Federal Reserve along with least possibility of any reversal of monthly bond buying in the near to medium term and recent softening of dollar index augur well for emerging markets including India, Modi added.

Elsewhere in Asia, bourses in Shanghai, Seoul, Tokyo and Hong Kong were trading with significant gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude declined 1.14 per cent to USD 74.55 per barrel.

Advertisement

Outlook Newsletters

Advertisement

Read More from Outlook

'Desperately Seeking Shah Rukh': How King Khan Impacted Women's Aspirations In India

'Desperately Seeking Shah Rukh': How King Khan Impacted Women's Aspirations In India

Author Shrayana Bhattacharya has been investigating women's employment across different sectors and found how, Shah Rukh Khan had an impact beyond Bollywood films.

UP Cabinet Expansion: Half A Dozen MLAs Likely To Take Oath, Backward And SC Fraternity May Get Preference

UP Cabinet Expansion: Half A Dozen MLAs Likely To Take Oath, Backward And SC Fraternity May Get Preference

The number of votes of backward and SC/ST fraternities in the state is very high and that is the primary reason why BJP is giving preference to them.

'Sixth-Time Lucky' For Harshal Patel

'Sixth-Time Lucky' For Harshal Patel

RCB bowler removed Hardik Patel, Kieron Pollard and Rahul Chahar off successive deliveries to claim a hat-trick.

Cyclone Gulaab Likely To Make Landfall By Midnight, Red Alert In 7 Odisha Districts

Cyclone Gulaab Likely To Make Landfall By Midnight, Red Alert In 7 Odisha Districts

Cyclone ‘Gulaab’ is likely to move westwards and cross the north Andhra Pradesh-south Odisha coast around. Wind speeds could reach 75-85 km/hr, gusting up to 95 km/hr, during landfall.

Advertisement