Sensex Rises Over 450 Points, Nifty Above 17,650; Pharma Stocks Outperform
NDTV
Nine of 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank index's 1.4 per cent gain.
The Indian equity benchmarks rose on Monday, defying the weak cues from other Asian Markets, with the Sensex rising as much as 491 points and the Nifty 50 index advancing above its important psychological level of 17,650 led by gains in Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Infosys, Bajaj Finance and State Bank of India. Meanwhile, most of the Asian markets were trading lower with Japan's Nikkei down 0.95 per cent, Hong Kong's Hang Seng falling 1.75 per cent and Taiwan Weighted down 0.6 per cent.
As of 9:48 am, the Sensex was up 460 points at 59,226 and Nifty 50 index advanced 127 points to 17,659.
On Friday, the Wall Street stocks surged to a higher close on Friday, kicking off the fourth quarter in a buying mood boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.
The Dow Jones advanced 1.43 per cent, S&P 500 rallied 1.15 per cent and Nasdaq climbed 0.82 per cent.
