Business

Sensex Rises Over 200 Points, Nifty Above 11,100

Sensex Rises Over 200 Points, Nifty Above 11,100

Domestic stock markets started Monday's session on a higher note amid gains in Asian peers. The S&P BSE Sensex index rose as much as 246.23 points to touch 37,596.56 in early trade, and the broader NSE Nifty benchmark moved to 11,122.65, up 74.85 points from the previous close. Buying in financial, information technology and pharmaceuticals sectors supported the upmove.

At 9:18 am, the Sensex traded 234.92 points - or 0.63 per cent - higher at 37,585.25, while the Nifty was up 57.70 points - or 0.52 per cent - at 11,105.50.

Top percentage gainers on the 50-scrip index were Indiabulls Housing Finance, Sun Pharma, Titan, Dr Reddy's, Yes Bank and JSW Steel, trading between 1.01 per cent and 7.79 per cent higher. 

Reliance Industries, HDFC, HDFC Bank and ICICI Bank contributed the most to the advances in Sensex.

Equities in other Asian markets rose on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors' fears of a sharp global economic slump. 

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.25 per cent.

Australian stocks added 0.7 per cent, South Korea's KOSPI advanced 0.5 per cent and Japan's Nikkei rose 0.7 per cent.

Over recent weeks, recession anxiety - triggered by an inversion in the US bond yield curve - has led to a shakeout in financial markets. That has driven speculation of more support from policy makers, including from the Federal Reserve which last month cut rates for the first time since the financial crisis.

(With inputs from Reuters)



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