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Sensex ends 83 points higher, Nifty at 10,167; banking stocks outperform

Sensex ends 83 points higher, Nifty at 10,167; banking stocks outperform

Earlier today, the market opened majorly higher, tracking gains in Asian markets and positivity in US futures. Wall Street closed higher on Friday after jobs data showed an unexpected rise raising hopes that the economy has started to show signs of recovery taking cues from the US jobs data.

Meanwhile, companies set to announce their earnings are Abbott India, Hero MotoCorp, Inox Leisure, PVR, GSPL, Titan, Bombay Dyeing, Kaycee Industries, Graphite India. Meanwhile, companies set to announce their earnings are Abbott India, Hero MotoCorp, Inox Leisure, PVR, GSPL, Titan, Bombay Dyeing, Kaycee Industries, Graphite India.

Equity market indices Sensex and Nifty erased early gains and closed marginally higher by Monday, tracking weak  overseas cues.

IndusInd Bank, Titan, Axis Bank, SBI, Bajaj Finance, ONGC, ICICI Bank, L&T, HDFC Bank and NTPC were among top Sensex gainers. On the other hand, Sun Pharma and Bharti Airtel were among the top laggards.

Extending gains for the second consecutive session, Sensex ended 83 points higher at 34,370 and Nifty climbed 25 points to 10,167.

Ajit Mishra, VP - Research, Religare Broking said,"A mixed trend was witnessed on sector front wherein oil & gas, IT and banks were the top gainers while healthcare, auto and metals ended in the red."

Earlier today, the market opened majorly higher, tracking gains in Asian markets and positivity in US futures. Wall Street closed higher on Friday after jobs data showed an unexpected rise raising hopes that the economy has started to show signs of recovery taking cues from the US jobs data.

Although, domestic markets erased all gains by the afternoon session as global currency and equity markets turned marginally lower with investors awaiting the outcome of a US Federal Reserve meeting this week. SGX Nifty turned negative and fell 10 points lower as European indices started the day in the red.