Sensex surges 300 points while Nifty around 16,700 in early trade
Sensex rose 309.91 points to 55,860.21
Nifty gained 72.1 points to 16,702.55
Rupee falls 18 paise to 76.62 against the US dollar
Brent crude fell 2.73% to USD 109.7 per barrel
The Sensex and Nifty opened higher on Monday, aided by robust buying in IT stocks amid a mixed trend in Asian markets. The BSE benchmark Sensex rose 309.91 points to 55,860.21 for the fifth day in a row. Similarly, the NSE Nifty gained 72.1 points to 16,702.55.
The main gainers in the 30-share Sensex group were Infosys, HDFC Bank, Tech Mahindra, Wipro, and State Bank of India. Hindustan Unilever Limited, Mahindra & Mahindra, Bajaj Finance, and Dr Reddy's Laboratories, on the other hand, were among the laggards.
The 30-share BSE Sensex closed 85.91 points, or 0.15% higher, at 55,550.30 on Friday. The broader NSE Nifty rose 35.55 points, or 0.21%, to 16,630.45.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "The most important event this week from the market perspective would be the outcome of the Fed meet expected on Wednesday".
According to exchange statistics, foreign institutional investors maintained their selling binge in Indian markets on Friday, offloading shares worth Rs 2,263.90 crore on a net basis.
Meanwhile, the international oil benchmark Brent crude fell 2.73% to USD 109.7 per barrel. In early trade, the rupee falls 18 paise to 76.62 against the US dollar.