- Sensex, Nifty opened higher on positive global cues.
- Heavyweight stocks like HDFC Bank and Infosys led gains.
- Elevated crude prices remain a key market risk.
The domestic key equity Benchmark indices-- Sensex and Nifty-- traded higher in early trade on Monday, on the back of buying sentiment in heavyweight stocks like HDFC Bank, Infosys and others amid positive global cues. However, according to a market expert, elevated crude prices due to persistent geopolitical tensions continue to be a risk factors Infront of investors.
Sensex, the 30-share BSE index, climbed 202 points to 77,744.15 in early trade, while NSE Nifty59 jumped 55.35 points to 24,309.
Top Losers And Gainers
Infosys, HCL Tech, Tech Mahindra, Tata Steel, TCS and HDFC Bank were among the major winners from the Sensex basket. Meanwhile, Asian Paints, Titan, Power Grid and Bharat Electronics were trading lower.
Crude prices cooled a bit. Brent crude, the global oil benchmark, fell nearly 1.3 per cent to a level of USD 93.14 per barrel.
"Middle East tensions continue to shape the broader market mood. Iran has warned of retaliation against countries participating in the US ''economic war'', reinforcing concerns that the confrontation could deepen rather than ease in the near term. For Indian investors, the prolonged US-Iran standoff and its implications for energy prices remain a key source of uncertainty," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
International Market
In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite Index and Hong Kong's Hang Cheng Index were down.
US markets ended higher on Friday
According to exchange data, foreign institutional investors sold equities worth Rs 542.71 crore on Friday. The Sensex rose 3.11 points to close virtually unchanged at 77,540.83. The Nifty also closed flat at 24,252, up 20.15 points, or 0.08 per cent.
(With Inputs From PTI)