Stock Market: Sensex Up 182 Points, Nifty Trades Around 17,650. Tata Motors Surges Over 7 Per Cent

Stock update: On the 30-share Sensex platform, Tata Motors surged over 7 per cent in early trade became the lead gainer of the pack. Titan, L&T, NTPC, TCS, Wipro were the other notable winners

The two key equity benchmarks, Sensex and Nifty, on Monday opened on a firm note amid mixed global cues.

At 9.48 am, the BSE Sensex was up 182 points to 60,015. On the other hand, the NSE Nifty was trading at 17,658, up 59 points.

On the 30-share Sensex platform, Tata Motors surged over 7 per cent in early trade became the lead gainer of the pack. Titan, L&T, NTPC, TCS, Wipro were the other notable winners. On the flip side, Asia Paints, Maruti, IndusInd Bank, Bajaj Finance, Axis Bank, HDFC were among the losers.

Shares of Tata Motors rallied over 7 per cent after Jaguar Land Rover registered a 30 per cent year-on-year (YoY) growth in retail sales at 1.02 lakh units for the quarter ended March FY23.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices rose up to 0.4 per cent.

All sectors started trade in a positive territory, with Nifty Realty index gaining the most - over 1 per cent.

In the previous session on Thursday, the S&P BSE Sensex swung 430 points during the day before closing at 59,833, up 144 points (0.24 per cent). On the other hand, NSE Nifty50, too, settled near 17,600-mark at 17,599, up 42 points (0.24 per cent).

Markets were closed on Friday on account of Good Friday.

"It appears that the market is bracing for a rally. The major positive is that FIIs have turned buyers having bought equity for Rs 4,740 crore during the last 6 trading sessions," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In Asian markets, Seoul, Japan, and Hong Kong were trading in the green, while Shanghai quoted lower. The US markets ended in the positive territory on Thursday. Stock market in the US were also closed on April 7 for Good Friday.

Global oil benchmark Brent crude dipped 0.19 per cent to $84.96 per barrel.

Foreign Portfolio Investors (FPIs) bought equities worth Rs 475.81 crore on Thursday, according to exchange data.

Meanwhile, The rupee gained 24 paise to 81.78 against the US dollar in early trade on Monday tracking a positive trend in domestic equities and foreign fund inflows. At the interbank foreign exchange, the domestic unit opened at 81.90 against the dollar, then climbed to 81.78, registering a rise of 24 paise over its previous close.

On Thursday, the rupee closed at 82.02 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 per cent to 102.20.

Brent crude futures, the global oil benchmark, declined 0.22 per cent to $84.93 per barrel. On the domestic side, the rupee remained largely unaffected after the Reserve Bank of India Monetary Policy Committee meeting.