Indian shares opened higher on Monday as encouraging economic data from the world’s two largest economies as well as the passing of President Joe Biden’s $1.9 trillion spending package by the U.S. Senate boosted expectations that the global economy is poised for a strong recovery.
The benchmark S&P BSE Sensex climbed 365 points, or 0.7 percent, to 50,769 in early trade, while the broader NSE Nifty index was up 107 points, or 0.7 percent, at 15,045.
Oil & gas stocks led the gainers as oil surged above $71 a barrel in Asian trading. GAIL jumped 6.5 percent and ONGC added 5.5 percent.
Muthoot Finance fell nearly 3 percent after Group Chairman George Muthoot died on Friday night.
BEML soared 12 percent amid reports that at least six companies are looking to buy a 26 percent stake in the state-run defense equipment maker.
PVR edged up slightly on news the multiplex major plans to invest Rs 150 crore to open up to 40 screens across the country in the next fiscal.
Adani Ports and Special Economic Zone rose over 1 percent after an affiliate of private equity firm Warburg Pincus unveiled plans to invest Rs 800 crore to acquire 0.49 percent stake in the country’s largest private port operator.
Just Dial surged 7 percent after it entered into an agreement with broadcaster Star India for advertising as co-presenting sponsor during Indian Premier League (IPL) 14.
Sensex Up 365 Points In Early Trade; Nifty Nears 15,050
2021-03-08 04:26:56
