Sensex Surges Over 600 Points On Firm Global Cues, Nifty Trades Above 16,500

Indian equity benchmarks rose sharply in opening deals on Monday, taking cues from the global markets. Asian shares traded higher today, in line with the positive trend on Wall Street.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-up start for the domestic indices.

The 30-share BSE Sensex jumped 624 points or 1.14 per cent to 55,509 in early trade, while the broader NSE Nifty moved 175 points or 1.07 per cent up to trade at 16,528.

Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 rose 1.15 per cent and small-cap gained 1.26 per cent.

All of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Sub-indexes Nifty IT and Nifty Consumer Durables were outperforming the NSE platform by rising as much as 2.51 per cent and 1.91 per cent, respectively.

On the stock-specific front, Infosys was the top gainer as the stock soared 2.85 per cent to ₹ 1,503.05. UPL, Tata Motors, HCL Tech and Grasim Industries were also among the gainers.

The overall market breadth was positive as 2,049 shares were advancing while, 569 were declining on BSE.

All the Sensex constituents were trading with gains. On the 30-share BSE index, Infosys, HCL Tech, Wipro, Titan, UltraTech Cement, HDFC, Tech Mahindra, L&T, TCS, Bajaj Finance, Reliance Industries and M&M were among the top gainers.

Sensex had zoomed 632 points or 1.17 per cent to close at 54,885 on Friday, while Nifty had moved 182 points or 1.13 per cent up to settle at 16,352.