Bharti Airtel was the top winner of the Sensex pack, followed by HCL Tech, Tata Steel, Tech Mahindra, Infosys and Axis Bank.
The benchmark Sensex stock index jumped more than 500 points early in Monday, following the gains of the main Infosys, Bharti Airtel and HDFC indices amid a positive trend in global markets.
The 30-stock index traded 506.20 points or 0.85% higher at 59,813.13 in initial trades. Likewise, the Nifty gained 158.40 points or 0.90% to 17,830.05.
Bharti Airtel was the top winner in the Sensex pack, rising around 3%, followed by HCL Tech, Tata Steel, Tech Mahindra, Infosys and Axis Bank.
In contrast, M&M, Bajaj Finserv, Dr Reddy’s, HUL and Reliance Industries were among the laggards.
In the previous session, the 30 stocks index had plunged 677.77 points or 1.13% to end at 59,306.93, and Nifty fell 185.60 points or 1.04% to 17,671.65 .
Foreign institutional investors (FIIs) have been net sellers in the capital market as they unloaded shares worth 5,142.63 crore on Friday, according to exchange data.
Markets appear to have reached a sell up mode as premium valuations of the markets and no positive earnings surprises, especially due to higher input costs, weighed on investor sentiment, Binod Modi said. Head-Strategy at Reliance Securities.
“However, despite this overall performance so far, strong revenue growth has contributed to double-digit earnings growth. In our view, the market may remain volatile with a short-term downtrend and investors will follow suit. the pricing power of industries, “he said.
Elsewhere in Asia, the Shanghai, Seoul and Tokyo stock exchanges were trading with gains in mid-session trades, while Hong Kong was in the red.
Meanwhile, international benchmark Brent crude oil fell 0.33% to $ 83.44 a barrel.