Equity benchmark Sensex jumped over 500 points in early trade on Monday tracking gains in index majors Infosys, Bharti Airtel and HDFC amid a positive trend in global market🀅s.
The 30-share index was trading 506.20 points or 0.85 per cent higher at 59𒉰,813.13 in initial deals. Similarly, the Nifty rose 158.𓃲40 points or 0.90 per cent to 17,830.05.
Here are top gainers:
Bharti Airtel was the top gainer in the Sღensex pack, rising around 3 per cent, followed by HCL Tech, Tata Steel, Tech Mahindra, Infosys and Axis Bank.
Top losers:
On the other hand, M&𓃲amp;M, Bajaj Finserv, Dr Reddy’s , HUL and Reliance Industries were among the laggards.
In the previous session, the 30-share index had plunged 677.77 points or 1.13 per cent to end at 59,306.93, aᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚnd Nifty fell 185.60 points or 1.04 per cent to 17,671.65.
Foreign institutional inves𓆉tors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 5,🥂142.63 crore on Friday, as per exchange data.
Markets seem to have reached a rise-on-sell mode as premium valuations of markets a𒉰nd no positive surprise from earnings especially due to higher inpওut costs have weighed on investors' sentiments, said Binod Modi Head-Strategy at Reliance Securities.
"However, despite that overall performance so far has been good with sharp growth in 🍒revenue aiding double digit growth in earnings. In our view, the market may remain volatile with downward bias in the near term and investors will track p꧂ricing power of the industries," he stated.
Meanwhile, Amid 🦂the jittery sentiments in the secondary markets, the Rs 5,650-crore IPO of PB Fintech, the parent company of Policybazaar and Paisabazaar, will kick off today. The issue is the biggest, and the most buzzed, among the three IPOs hittin𓆉g the primary market today, adding more euphoria to the stake sale activities in the primary market.
Elsewhere in Asia, bourses in Shanghai🧔, Seoul and Tokyo were trading with gains in mid-ses🍌sion deals, while Hong Kong was in the red.
Meanwhile, international oil 𒐪benchmark Brent crude fell 0.33 𝄹per cent to $83.44 per barrel.
(With PTI Inputs)
