Sensex rises nearly 600 points | Check top gaining shares

Nifty 50 index was up 1.18 per cent or 185.50 points at 15,868, while the S&P BSE Sensex rose 1.12 per cent or 591.50 to 53,385.12.

The Sensex and Nifty gained over 1 per cent in early morning trade on Monday as broader Asian markets tried to hold onto small gains after weak data from China showed that strict lockdowns hit the world's second-largest economy.

The NSE Nifty 50 index was up 1.18 per cent or 185.50 points at 15,868, while the S&P BSE Sensex rose 1.12 per cent or 591.50 to 53,385.12. On Friday, both indexes logged their fifth straight weekly drop, marking their longest weekly losing streak since 2020.

Shares of Ambuja Cements and ACC rose 2.9 per cent and 6.4 per cent, respectively, after conglomerate Adani Group said it would buy Holcim AG's controlling stake in the companies.

Rivals UltraTech Cement and Shree Cement fell 2.5 per cent and 1.8 per cent, respectively, and were among the top losers on the Nifty 50 index.

Broader Asian shares struggled to sustain a minor rally after weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy.

China's retail sales in April shrank 11.1 per cent from a year earlier, the biggest contraction since March 2020, data from the National Bureau of Statistics showed.

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