💞Equity benchmark Sensex surged over 300 points in early trade on Monday led by gains in index majors HDFC Bank, ICICI Bank and Kotak Bank amid foreign fund inflow and a largely positive trend in global markets.
🐈The 30-share index was trading 315.89 points or 0.52 per cent higher at 61,002.58 in initial deals. Similarly, the Nifty rose 90.30 points or 0.50 per cent to 18,193.05.
Top gainer:
💮Titan was the top gainer in the Sensex pack, rising over 1 per cent, followed by ITC, IndusInd Bank, Kotak Bank, M&M, Asian Paints and HDFC Bank.
Top loser:
💜On the other hand, Bharti Airtel, Tech Mahindra, HDFC and Tata Steel were among the laggards.
﷽In the previous session, Sensex ended 767 points or 1.28 per cent higher at 60,686.69. Similarly, the Nifty rose 229.15 points or 1.28 per cent to 18,102.75.
♈Foreign institutional investors (FIIs) were net buyers in the capital market, as they purchased shares worth Rs 511.10 crore on Friday, as per exchange data.
🌃"Partly justifying the market rally, corporate earnings have grown by 46 per cent year-on-year in Q2. The surge in earnings has been led by financials, metals and mining and oil & gas.
🧸"But, even discounting this impressive performance by India Inc, the market is overvalued and, therefore, corrections are due," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
ꦿElsewhere in Asia, bourses in Hong Kong and Hong Kong were trading with losses in mid-session deals, while Tokyo and Seoul were positive. Stock exchanges in the US ended higher in Friday's session.
♋Meanwhile, international oil benchmark Brent crude fell 0.89 per cent to $81.44 per barrel.
(With PTI Inputs)
