Domestic equity markets opened higher on Monday, with the Sensex rising 0.60% and the Nifty 50 gaining 0.49% in the first trading session of the week.
The BSE Sensex opened 431.25 points, or 0.60%, higher at 72,340.95. The National Stock Exchange’s Nifty 50 index rose 110.45 points, or 0.49%, to 22,532.40.
Banking and selected large-cap stocks saw buying in early trade, while some major IT stocks remained under pressure. Of the 50 Nifty 50 constituents, 35 opened higher and 15 in the red. Among the 30 Sensex companies, 20 opened higher and 10 declined.
The domestic equity market had recorded a sharp decline on Thursday last week, while markets remained closed on Friday on the occasion of Gandhi Jayanti. Monday’s opening marked the beginning of the new trading week following the previous session’s decline.
Bajaj Finance shares opened around 2.64% higher and were among the best-performing Sensex stocks in early trade. HDFC Bank gained 1.68%, Power Grid rose 1.47%, ITC advanced 1.17% and Bajaj Finserv increased 1.17%.
L&T shares opened 1.11% higher, Axis Bank gained 0.95% and NTPC rose 0.87%. Indigo advanced 0.79%, SBI gained 0.75% and Reliance Industries rose 0.74%. Kotak Mahindra Bank, UltraTech Cement, Bharti Airtel and Adani Ports also opened higher.
HCL Tech shares faced the highest pressure among Sensex constituents, opening around 1.07% lower. Tech Mahindra declined 0.93%.
Eternal fell 0.70%, Sun Pharma declined 0.35%, TCS fell 0.28% and Titan declined 0.22%. Infosys, Trent, BEL and ICICI Bank also opened with marginal declines.
