Sensex Reverses Early Losses, Nifty Above 10,350
The domestic stock markets reversed early morning losses to trade in the green on Monday. At 11:30 am, the S&P BSE Sensex traded at 34,574.86, up 197.87 points or 0.58 per cent and the Nifty50 at 10,365.20, with a gain of 48.75 points or 0.47 per cent. The Sensex touched its day's high at 34,636.43 and low at 34,031.98. The Nifty50 touched its day's high at 10,398.35 and low at 10,201.95. The Sensex surged as much as 259.44 points and the Nifty 81.9 points.
Gaining between 2.62 and 5.53 per cent, Reliance Industries, Yes Bank, Hero MotoCorp, Coal India and Kotak Mahindra Bank were the top Sensex gainers. Gains the broader Nifty50 were led by Hindustan Petroleum, Yes Bank, Reliance Industries, Indian Oil and Indiabulls Housing Finance, which rose between 3.72 and 5.54 per cent.
In the Nifty pack, 28 out of 50 stocks advanced in trade.
In the sectoral landscape, the nifty PSU Bank - the index of public sector bank stocks - led the gains as seven out of 12 stocks gained in trade.
India VIX - the index which helps gauge volatility in markets - was up 4.47 per cent.
The benchmarks outperformed the broader markets as the S&P BSE Midcap lost 0.32 per cent and the S&P BSE Smallcap 0.36 per cent.
On Friday, the Sensex had closed at 34,376.99, down 792.17 points or 2.25 per cent and the Nifty50 had settled at 10,316.45, with a loss of 282.80 points or 2.67 per cent. Foreign portfolio investors and domestic institutional investors sold and purchased net equities of Rs 3,370.14 crore and Rs 1,902.07 crore respectively, according to provisional data from NSE.