Sensex rises 255 points to 34,261, Nifty at 10,536 level; Tata Steel, ONGC, Axis Bank top gainers

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Sensex rises 255 points to 34,261, Nifty at 10,536 level; Tata Steel, ONGC, Axis Bank top gainers

The Sensex and Nifty recovered in early morning trade today after a witnessing a volatile week on weak US and Asian markets.

Global markets could trade lower this week with US consumer price data set to be released on Wednesday given it was fears of faster inflation, and thus more aggressive rate rises, that triggered the global rout in the first place.

Meanwhile, Asian markets were trading higher with Taiwan TSec index rising 88 points.

Also read: SBI stock trading lower as bad loans rise in Q3

At 9:32 am, the Sensex was trading 255 points higher at 34,261, Nifty was up 71 points to 10,526 level.

Tata Steel (3.69%), ONGC (3.01%) and Axis Bank (1.34%) were the top Sensex gainers.

SBI which reported a massive Rs 2,416.37  crore net loss for the December quarter of current fiscal was the top loser falling 2.87% to 288 level.

Global markets

Markets are trading mixed after Wall Street rebounded on Friday. Oil price rose after six days of decline. Tech and financial stocks trading higher.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.8 percent, having suffered a 7.3 percent drubbing last week.

Both South Korea and China gained 0.8 percent, while Japan's Nikkei was closed for a holiday.

European markets closed lower on Friday as investors looked at volatility in the markets and rising interest rates.

US markets closed higher on Friday after a volatile session. Trump on Friday signed a roughly $300 billion budget plan into law.

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