The benchmark Sensex of the Bombay Stock Exchange (BSE) gained 147 points while Nifty reclaimed 10600-mark in early trade today on sustained buying by the DIIs investors amid firm Asian cues.
Encouraging earnings by blue-chip Company also added to the uptrend.
The 30-share barometer rose 147.25 points (0.42 percent) to 34598.02. Earlier, the gauge had gained 35.19 points in the previous session.
The broader 50-shares NSE Nifty was up 23.90 points (0.22 percent) to 10608.60.
Major gainers were ICICI Bank, Yes Bank, HUL, M&M, ITC, RIL, Adani Ports, Maruti Suzuki, ONGC, Dr. Reddy’s, Sun Pharma and Bajaj Auto rising up to 2 percent.
Brokers said sustained buying by domestic institutional investors, firm trend other Asian bourses and encouraging earnings by some blue chips company boosted the sentiment here.
Sectoral indices led by realty, auto, FMCG, bankex and consumer durables were trading in the positive zone with gains of up to 0.93 percent.
On the other hand, shares of Bharti Airtel fell 0.94 percent and IDFC Bank dropped 0.10 percent, ahead of their Q4 results scheduled to announce today.
Metal stocks cracked as aluminum prices continued to fall after the US softened its stance on sanctions against Russian metals giant United Company Rusal, leading to a record plunge in aluminum prices.
Hindalco, Nalco, Vedanta and Jindal Steel were among major losers in the BSE metal index, diving up to 8 percent.
Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 259.08 crore while Domestic Institutional Investors (DIIs) bought shares worth Rs 387.26 crore on Monday, a provisional data showed.
In other Asian markets, Hong Kong’s Hang Seng rose 1.20 percent while Japan’s Nikkei was up to 0.67 percent in early trade. Shanghai Composite Index gained 1.95 percent.
The US Dow Jones Industrial Average ended 0.06 percent down while Nasdaq Composite Index was down by 0.25 percent in yesterday’s trade.