The 50-share Nifty increased 46.75 points or 0.27 per cent to 17,670.80 points, while the 30-share Sensex increased 179.16 points or 0.30 per cent to 59,834.22 points. The Sensex and Nifty equity benchmark indices increased in early trade on Monday despite conflicting global trends. 13 equities in the Sensex pack were trading in the green, while the remaining 17 shares were down.
Investing in the stocks of Reliance Industries and ICICI Bank, among others, contributed to the early gains. Over 1% gains were recorded by Reliance Industries, ICICI Bank, Wipro, and State Bank of India. Twenty-three of the Nifty shares were trading in the green. Stocks in the Asia Pacific area were trading in a range of directions, with the Nikkei 225 in Japan trading higher and the Hang Seng and SSE Composite Index in China trading lower. The majority of the European benchmark indices as well as the US market closed with gains on Friday. Despite mixed Asian markets today and in line with stronger US markets on Friday, Deepak Jasani, Head of Retail Research at HDFC Securities, predicted that Indian markets could open marginally higher.
On Friday, the 30-share benchmark index for stock prices, the Sensex, closed modestly higher while the larger Nifty ended the day in the negative. Investors will also be closely monitoring company earnings throughout the week. According to market data, Foreign Portfolio Investors (FPIs) sold domestic equities worth Rs 2,116.76 crore on Friday, making them net sellers.
