Domestic stock markets started Monday's session on a higher note amid gains in Asian peers on optimism about the US-China trade developments.
The S-P BSE Sensex index rose as much as 143.41 points to touch 40,502.82 on the upside in early deals, and the broader NSE Nifty benchmark climbed to as high as 11,956.70, up42.3 points from the previous close.
Gains in information technology and metal shares supported the markets.At 9:18 am, the Sensex traded 111.13 points (0.28 per cent) higher at 40,470.54, while the Nifty was up 30.15 points (0.25 per cent) at 11,944.55.Top percentage gainers on the 50-scrip index at the time were Bharti Infratel, Tata Steel, JSW Steel, Bharti Airtel and Infosys, trading between 1.34 per cent and 2.33 per cent higher.
On the other hand, Zee Entertainment, ONGC, Bharat Petroleum, Bajaj Auto and Asian Paints - down between 0.50 per cent and 2.30per cent - were the top Nifty laggards.Reliance Industries, Infosys and HDFC Bank were the top contributors to the gain in Sensex.Equities in other Asian markets made guarded gains as investors dared to hope for some progress in the US-China trade dispute, while the outperformance of recent US economic data gave the dollar a leg up on its peers.
MSCI's broadest index of Asia-Pacific shares outside Japan bounced 0.8 per cent, after losing 0.4 per cent last week.
Japan's Nikkei firmed 0.9 per cent.On Friday, the Sensex had ended 215.76 points - or 0.53 per cent - lower at 40,359.41 and the Nifty benchmark settled at 11,914.40, down 54.00 points (0.45 per cent) from the previous close.Meanwhile, Tata Motors, Tata Motors DVR, Yes Bank and Vedanta will be dropped from the Sensex from December 23, 2019, to accommodate Titan, UltraTech Cement and Nestle India, according to Asia Index, a 50-50 partnership between S-P Dow Jones Indices LLC and BSE.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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