The Sensex and Nifty opened higher today amid Asian markets logging gains on positive outcome of US- China trade talks. While the Sensex rallied 162 points to 36,033 in early trade, the Nifty climbed 34 points to 10,830. Vedanta (1.06%), ICICI Bank (1.02%) and YES Bank (0.95%) were the top Sensex gainers.
Top Sensex losers were ONGC (1.38%), Coal India (0.77%) and L&T (0.64 %).
On Friday, the 30-share Sensex settled 26.87 points, or 0.07 per cent lower at 35,871.48. The broader NSE Nifty inched up 1.80 points, or 0.01 per cent, to 10,791.65.
Meanwhile, the mid cap and small cap indices were trading 46 points and 81.17 points higher in early trade.
Market breadth was positive with 1089 stocks trading higher compared to 722 falling on the BSE.
Auto and IT stocks led the gains with their indices rising 126 points and 97 points, respectively.
Major gainers that supported the recovery on both bourses were Tata Steel, Tata Motors, Vedanta, RIL, HDFC Bank, Infosys, TCS, M&M, Hero MotoCorp IndusInd Bank, Maruti Suzuki, HCL Tech, Bajaj Auto, HDFC, HUL and Sun Pharma, rising up to 1.13 per cent.
Sentiments also got a boost after the GST Council on Sunday slashed tax rates on under-construction housing properties to 5 per cent without input tax credit, from the existing 12 per cent, brokers said.
Stocks of realty and housing finance companies were back in better form and scored handsome gains.
Sectoral indices, led by realty, IT, auto, bankex and consumer durables, were trading in the green with gains of up to 2.16 per cent.
While oil and gas, PSU, capital goods and power sector indices were trading lower.
Brokers said heavy foreign fund inflows and buying by domestic institutional investors (DIIs) amid a firm trend at other Asian bourses led the markets higher.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 6,311.01 crore, while DIIs made purchases of Rs 838.88 crore on Friday, provisional data showed.
Most Asian stock markets rose Monday after President Donald Trump said he would postpone a March 1 deadline for a US tariff hike on Chinese imports following weekend talks on a battle over Beijing's technology ambitions.
The Shanghai Composite Index gained 2.4 percent to 2,871.27 points and Tokyo's Nikkei 225 added 0.7 percent to 21,572.11. Sydney's S&P-ASX 200 was off 2 points at 6,165.30 and Seoul's Kospi shed 1 point to 2,229.73. Hong Kong's Hang Seng advanced 10 points to 28,832.75. Taiwan also gained while New Zealand declined.
Edited by Aseem Thapliyal