Indian equity markets Sensex and Nifty50 held on to initial gains on Monday amid largely positive moves across global markets. Buying interest in financial and IT shares aided the rise in both headline indices though selling pressure in auto and metal counters limited the upside. Analysts awaited more of financial results from India Inc for cues after HDFC Bank, Wipro and DMart reported their quarterly numbers last weekend.  

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Both main indices rose as much as 0.5 per cent in the first few minutes of trade. The Sensex gained 325.6 points or 0.5 per cent to touch 60,586.8 at the strongest level of the day so far, and the Nifty50 climbed to as high as 18,049.7, up 93.1 points from its previous close. The 30-scrip index started the day at 60,550.5 and the Nifty at 17,956.6.

At 9:45 am, Wipro, the Bajaj twins, HCL TEch, UltraTech, HDFC Life, TCS and Infosys -- rising between 0.7 per cent and 1.3 per cent -- were the top gainers in the Nifty50 basket. 

On the other hand, JSW Steel, BPCL, Adani Enterprises, Bajaj Auto, Mahindra & Mahindra, Tata Steel and Hindalco -- declining between 0.7 per cent and 1.8 per cent -- were the worst hit among the 27 laggards in the 50-scrip pack.

HDFC Bank, Infosys and Bajaj Finance were the biggest movers for both main gauges, contributing about 70 points to the rise in Sensex.

LIVE stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.