Sensex Jumps 186 Points, Nifty Trades Above 17,250 On Positive Global Cues

Midcap and smallcap shares were trading on a positive note as Nifty Midcap 100 moved 0.64 up and small-cap shares surged 0.66 per cent

New Delhi: The key equity benchmarks, Sensex and Nifty, started higher as price of Brent crude fell over 9 per cent overnight and positive global cues.

During early trade at 11 am, the 30-share BSE Sensex climbed 186 points to 57,779, while the broader NSE Nifty moved 60 points up to 17,282.

Midcap and smallcap shares were trading on a positive note as Nifty Midcap 100 moved 0.64 up and small-cap shares surged 0.66 per cent.

Among the Sensex-30 shares, Ultratech Cement, HDFC, Asian Paints, Bharti Airtel, Dr Reddy's, Maruti, HCL Tech, and Sun Pharma were the top gainers, up to 2.6 per cent higher.

On the other hand, ITC, NTPC, Infosys, Tata Steel, Tech M, ONGC, Coal India, and Hindalco were the top losers on the bourses.

12 out of the 15 sector gauges, compiled by the National Stock Exchange, were trading in the green. Nifty Consumer Durables and Nifty Auto were outperforming the index by rising as much as 0.82 per cent and 0.78 per cent, respectively. Nifty Realty was up 1 per cent. Nifty Bank, IT, Consumer Durables were other notable gainers. Nifty Metals, on the flip side, was the sole loser.

In the previous trade, the BSE barometer climbed 231.29 points or 0.40 per cent to settle at 57,593.49. The NSE Nifty recovered 69 points or 0.40 per cent to 17,222.

According to the PTI, elsewhere in Asia, bourses in Tokyo, Seoul and Hong Kong trading in the green, while Shanghai quoted marginally lower during mid-session deals.

Stock exchanges in the US ended with gains on Monday. Meanwhile, international oil benchmark Brent crude declined 1.30 per cent to $111.02 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 801.41 crore on Monday, according to stock exchange data.

"US equities ended higher after a choppy session, despite fears of the FED increasing interest rates... The fall in crude prices supported market rally across economies. The Nasdaq Composite jumped 1.31 per cent, the Dow Jones Industrial Average increased 0.27 per cent while the S&P 500 climbed 0.71 per cent," said Mitul Shah, Head of Research at Reliance Securities.