The 30-share BSE Sensex climbed 92.98 points to 61,888.02 in early deals. , Photo Credit: Reuters
Benchmark indices edged up in early trade on Monday amid positive cues from global markets and unhindered foreign fund inflows, but later turned volatile.
The 30-share BSE Sensex rose 92.98 points to 61,888.02 in opening deals. Similarly, the broader NSE Nifty rose 44.4 points to 18,394.10.
However, later, both the benchmark indices turned volatile and were trading on a mixed note. The BSE benchmark was trading 35.7 points lower at 61,759.34, while the Nifty was trading 12.30 points higher at 18,362.
Power Grid, Tata Steel, Kotak Mahindra Bank, HCL Technologies, Mahindra & Mahindra and UltraTech Cement were major winners in early trade from the Sensex pack.
Dr Reddy’s, ICICI Bank, State Bank of India and ITC were among the laggards.
Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong were trading higher, while Tokyo quoted lower.
Wall Street ended higher on Friday.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The bullishness in the market is evident from 4 consecutive weeks of gains in the last 11 trading days and FIIs turning into buyers.”
On Friday, the BSE benchmark had jumped 1,181.34 points or 1.95% to close at 61,795.04. The Nifty closed at 18,349.70, up 321.50 points or 1.78%.
International oil benchmark Brent crude was trading 0.43% higher at $96.40 per barrel.
Foreign institutional investors (FIIs) were net buyers on Friday as they bought shares worth ₹3,958.23 crore, according to exchange data.