Stock Market: Sensex Climbs Over 200 Points, Nifty Around 19,400 On Asian Cues. Reliance Shines 3.5 Per Cent

Stock update: On the 30-share Sensex platform, Reliance, Tata Motors, SBI, Tata Steel, HDFC, M&M were the early gainers. HCL, Titan, PowerGrid, TCS, Bajaj Finance, TechM emerged losers

The two key equity benchmarks, Sensex and Nifty, on Monday opened in the green with nominal gains on Monday amid positive cues from the Asian markets. The domestic indices opened much higher in the opening trade, however, later pared some of their gains. At 9.44 am, the BSE Sensex rose 205 points to 65,485. On the other hand, the NSE Nifty50 moved 71 points higher to 19,403.

On the 30-share Sensex platform, Reliance, Tata Motors, SBI, Tata Steel, HDFC, M&M were the early gainers. On the downside, HCL, Titan, PowerGrid, TCS, Bajaj Finance, TechM emerged losers. Stock of Reliance was trading up by 3.49 per cent. RIL has fixed July 20 as the record date for the purpose of determining the equity shareholders who are entitled to receive shares of Reliance Strategic Investments (RSIL). Under the scheme of arrangement, Reliance Strategic Investments will allot one fully paid-up equity share of RSIL of face value of Rs 10 each, for every one share of Reliance Industries as on the record date.

Among specific stocks, IDBI Bank rallied 4 per cent after reports said the bank's divestment process has moved into the next leg with financial due diligence currently underway.

In the broader markets, the BSE Midcap index fell 0.10 per cent, while the Smallcap index was up 0.15 per cent.

In the previous session on Friday,  the S&P BSE Sensex plunged 505 points to settle at 65,280, while the Nifty50 sank below the 19,350-mark to close at 19,332, down 165 points.

In Asian markets, Shanghai and Hong Kong quoted in the green while Seoul and Tokyo traded lower. The US markets ended in the negative territory on Friday.

Global oil benchmark Brent crude dipped 0.62 per cent to $77.98 a barrel.

Foreign Institutional Investors (FIIs) continued their buying activity as they bought equities worth Rs 790.40 crore on Friday, according to exchange data.

Meanwhile, the rupee gained 6 paise to 82.55 against the US dollar in early trade on Monday supported by sustained foreign fund inflows and a bullish momentum in domestic equities. At the interbank foreign exchange, the domestic unit opened at 82.65 against the dollar and then rose to 82.55, registering a gain of 6 paise over its previous close.

On Friday, the rupee closed at 82.61 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.18 per cent to 102.45.