BSE benchmark indices Sensex, Nifty opened on a positive note on Monday tracking strong global trends and fresh foreign fund inflows.
The 30-share BSE benchmark rose 274.02 points to 57,844.27 in opening deals and the broader NSE Nifty rose 86.55 points to 17,244.80.
Among the Sensex constituents, Mahindra & Mahindra, Maruti Suzuki India, Reliance Industries, Power Grid, UltraTech Cement, Dr Reddy’s, Wipro and Bharti Airtel were among the major gainers.
Sun Pharma, IndusInd Bank, Hindustan Unilever and Bajaj Finserv were among the laggards.
In Asia, markets in Seoul, Shanghai and Tokyo were trading higher, while Hong Kong was quoted lower.
The United States markets had ended on a high note on Friday.
Prashant Taapse, Research Analyst, Senior VP (Research), Mehta Equities, said, “The market will keep an eye on the July auto sales data, as it will be a possible indication of the health of the macro economy.” Ltd said.
On Friday, the BSE barometer had jumped 712.46 points or 1.25% to close at 57,570.25. Nifty was up 228.65 points or 1.35% at 17,158.25.
Meanwhile, international oil benchmark Brent crude declined 1.07% to $102.86 per barrel.
Foreign institutional investors remained net buyers in the capital market as they bought shares worth Rs 1,046.32 crore on Friday, according to exchange data.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The big positive for the Indian market is FPIs turning buyers in July after nine months of continuous selling.”
Foreign investors became net buyers and invested around ₹5,000 crore in Indian equities in July.