Advances in banking, financial services and energy stocks were offset by losses in pharma counters Domestic stock markets started Monday's session on a positive note amid choppy trade, shrugging off weakness in Asian peers on US-China trade concerns.
The SP BSE Sensex rose as much as 219.46 points to 39,654.18 in early trade, and the NSE Nifty moved to 11,896.05, up 51.95 points from the previous close.
Advances in banking, financial services and energy stocks were offset by losses in pharma counters.
Analysts expect some volatility in the markets ahead of the release of GDP data and the expiry of monthly derivatives contracts this week.
Here are 10 things to know:At 9:37 am, the Sensex traded 79.54 points - or 0.20 per cent - higher at 39,514.26, while the Nifty was up 12.35 points - or 0.10 per cent - at 11,856.45.Top percentage gainers on the 50-scrip index were NTPC, Tata Steel, Yes Bank, Bharti Infratel and Indiabulls Housing Finance, trading between 1.33 per cent and 2.03 per cent higher.HDFC Bank, NTPC and ITC contributed the most to the advances on Sensex.The Nifty Bank index rose as much as 0.67 per cent.
Besides Yes Bank, prominent gainers on the sectoral index included Punjab National Bank, Bank of Baroda and Axis Bank, which rose1.16-3.40 per cent in morning deals.
Heavyweight State Bank of India (SBI) rose as much as1.79 per cent.Market breadth favoured the upside in the markets, with1,152 stocks trading in the positive zone and 511 struggling with losses on the National Stock Exchange (NSE).
On the BSE, 1,267 stocks advanced at the time, while 467 declined.Midcap and smallcap stocks outperformed the benchmark indexes, with the SP BSE Midcap and Smallcap indexes rising as much as 0.73 per cent and 1.01 per cent respectively.On the other hand, the Nifty Pharma index dropped as much as 1.34 per cent, dragged lower by losses in Lupin and Dr Reddy's Laboratories.The rupee appreciated by as much as18 paise against the dollar to69.35 in morning.Asia stocks hovered near four-month lows on Monday amid concerns about US-China tensions, withMSCI's broadest index of Asia-Pacific shares outside Japan virtually flat, a sliver above from a four-month low touched on Friday, with market holidays in the US and UK denting trading volumes.Japan's Nikkei average was up 0.3 per cent by its midday break.The Sensex and Nifty had ended1.61 per cent and 1.6 per cent higher on Friday, after theBharatiya Janata Party-led National Democratic Aliance (NDA) won an overwhelming majority in the recently concluded general elections.(With inputs from Reuters)