Positive global cues lift equities; IT, FMCG stocks up
Mumbai: Positive Asian markets, coupled with healthy buying in IT, FMCG and banking stocks, pushed the key Indian equity indices higher during the mid-afternoon trade session on Monday.
Market observers said investors awaited the Consumer Price Index (CPI) and Index of Industrial Production (IIP) data slated for release later during the day.
Around 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 100.80 points, or 0.99 per cent, to trade at 10,327.65 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,468.16 points, traded at 33,630.87 points -- up 323.73 points, or 0.97 per cent, from the previous session's close.
The Sensex has so far touched a high of 33,673.83 points and a low of 33,468.16 points during the intra-day trade.
However, the BSE market breadth was bearish with 1,391 declines and 1,155 advances.
"Indian shares traded higher Friday on renewed buying interest after Asian shares advanced following the reports of US President Donald Trump agreeing to meet North Korean leader Kim Jong Un," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
"Top gainers on the NSE were HCL, ITC and Infosys, while on the declines were Coal India, State Bank of India and Auro Pharma," he added.
On Friday, a sudden sell-off during the last hour of trade trimmed the day's entire gains and led the equity indices to close trade on a flat note with marginal losses.
The NSE Nifty50 fell by 15.80 points or 0.15 per cent to close at 10,226.85 points, while the BSE Sensex closed at 33,307.14 points -- down 44.43 points or 0.13 per cent.