Stock benchmark indexes rose in early trading Monday, following the robust trend in other Asian markets and ongoing foreign capital inflows.
In early trading, the 30-share BSE Sensex rose 164.79 points to 59,997.76. The NSE Nifty gained 52.55 points to 17,651.70.
Tata Motors rose more than 7% among Sensex companies. Other big winners were Titan, Larsen & Toubro, NTPC, Mahindra & Mahindra, Wipro, Power Grid, Tata Steel, ICICI Bank, Tata Consultancy Services, HCL Technologies, and Infosys.
Among the laggards were Asian Paints, Maruti, Bajaj Finance, and IndusInd Bank.
In Asian markets, Seoul, Japan, and Hong Kong were all trading higher, while Shanghai was trading lower.
On Thursday, the American markets finished in the green. The stock market in the United States was closed on April 7 for Good Friday.
“It appears that the market is bracing for a rally. The major positive is that FIIs have turned buyers having bought equity for ₹ 4,740 crore during the last 6 trading sessions,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On Thursday, the Sensex rose 143.66 points, or 0.24 percent, to 59,832.97. The Nifty rose 42.10 points, or 0.24 percent, to 17,599.15.
Due to Good Friday, equity markets were closed on April 7.
Meanwhile, Brent crude, the global oil standard, fell 0.19 percent to USD 84.96 per barrel.
Foreign Portfolio Investors (FPIs) bought securities worth Rs 475.81 crore on Thursday, according to data from the market.