Early trading saw markets rise due to significant purchasing in Reliance Industries
In the early hours of trading on Monday, equity benchmark indexes recovered thanks to uninterrupted foreign capital inflows and buying in index heavyweights Reliance Industries and the HDFC twins.
The 30-share BSE Sensex rose 252.87 points to 65,533.32 in early trading, reversing Friday’s drop. To 19,407.90, the NSE Nifty increased by 76.1 points.
Reliance Industries gained more than 3% when quoted from the Sensex pack. The largest gainers were HDFC, Tata Motors, State Bank of India, HDFC Bank, Axis Bank, UltraTech Cement, and Mahindra & Mahindra.
Those that lagged behind included HCL Technologies, Titan, Power Grid, Bajaj Finance, Tata Consultancy Services, Tech Mahindra, Wipro, and Bajaj Finserv.
According to exchange statistics, foreign institutional investors (FIIs) kept up their buying trend on Friday by purchasing shares of stock worth Rs 790.40 crore.
Shanghai and Hong Kong were in the green on Asian markets, but Seoul and Tokyo traded down.
The US stock markets closed Friday in the red.
Benchmark Brent crude for world oil fell 0.62 percent to USD 77.98 per barrel.
The BSE benchmark dropped to 65,280.45 on Friday, down 505.19 points or 0.77 percent. The Nifty had decreased to 19,331.80 by 165.50 points, or 0.85 percent.
