Sensex, Nifty open on positive note on firm global trends, foreign funds inflows

Image Source : PTI/FILE Markets in Seoul, Shanghai and Tokyo were trading higher, while Hong Kong quoted lower. The US markets had ended on a higher note on Friday.

BSE benchmark indices Sensex, Nifty opened on a positive note on Monday tracking firm global trends and fresh foreign fund inflows. The 30-share BSE benchmark climbed 274.02 points to 57,844.27 and the broader NSE Nifty advanced 86.55 points to 17,244.80 in initial deals.

Among the Sensex constituents, Mahindra & Mahindra, Maruti Suzuki India, Reliance Industries, Power Grid, UltraTech Cement, Dr Reddy’s, Wipro and Bharti Airtel were among the lead gainers. Sun Pharma, IndusInd Bank, Hindustan Unilever and Bajaj Finserv were among the laggards.

In Asia, markets in Seoul, Shanghai and Tokyo were trading higher, while Hong Kong quoted lower. The US markets had ended on a higher note on Friday.

“The market will keep an eye on the July auto sales numbers to trickle-in later today, as this would be a likely indication of the health of the macro economy,” Prashanth Tapse, Research Analyst, Senior VP (Research), Mehta Equities Ltd, said.

On Friday, the BSE barometer had jumped 712.46 points or 1.25 percent to settle at 57,570.25. The Nifty had advanced 228.65 points or 1.35 percent to 17,158.25.

Meanwhile, international oil benchmark Brent crude declined 1.07 percent to USD 102.86 per barrel. Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 1,046.32 crore on Friday, as per exchange data.

“The big positive for the Indian market is the FPIs turning buyers in July after nine months of relentless selling,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Foreign investors turned net buyers and invested nearly Rs 5,000 crore in Indian equities in July.

Also Read | Rupee gains 30 paise to 79.39 against US dollar in early trade

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