The Sensex rose 485.98 points as a result of purchasing in IT stocks and strong trends in global equities as market benchmark indices opened the trading week on a strong note.

The BSE Sensex was up 485.98 points to 54,246.76. In early trade, the NSE Nifty rose 126 points to 16,175.20.

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Infosys, Tech Mahindra, Larsen & Toubro, Sun Pharma, IndusInd Bank, Wipro, Tata Steel, and UltraTech Cement were the top gainers among Sensex components. The laggards were HDFC Bank, Mahindra & Mahindra, and HDFC.

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Delta Corp is the stock/security that has been placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, July 18, 2022.

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In Asia, markets in Seoul, Shanghai and Hong Kong were trading significantly higher. Wall Street ended a week of losses with a broad market rise on Friday, as investors hailed solid profits from major corporations as well as an upbeat survey on consumer mood and inflation predictions.

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On Friday, the Sensex rose 344.63 points, or 0.65%, to 53,760.78, while the Nifty gained 110.55 points, or 0.69%, to 16,049.20.

Foreign institutional investors (FIIs) sold shares worth a net Rs 1649.36 crore, while domestic institutional investors (DIIs) purchased shares worth a net Rs 1059.46 crore in the Indian equity market on July 15, as per provisional data available on the NSE.  

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Meanwhile, Brent crude, the international oil benchmark, rose 0.72% to USD 101.89 a barrel. The rupee rose 6 paise to 79.76 against the US dollar in early trade on Monday, buoyed by a strong trend in domestic markets.