The Indian equity benchmarks staged a gap up opening mirroring gains in global markets wherein the Sensex advanced as much as 383 points to hit record high of 52,957.13 and Nifty 50 index advanced above its important psychological level of 15,800. Global shares extended their recovery with Asian markets bouncing from four-week lows as investor focus on economic growth partly offset worries about any near-term rise in US interest rates. Reliance Industries, HDFC Bank, ICICI Bank, HDFC, Tata Consultancy Services, Maruti Suzuki and State Bank of India were among the top movers in the Sensex.
As of 9:22 am, the Sensex was up 363 points at 52,937.36 and Nifty 50 index climbed 111 points to 15,857.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.35 per cent, moving above Monday’s four-week lows and notching a 4 per cent gain so far this year.
Japanese shares led the way in Asia, with the Nikkei advancing 2.1 per cent. South Korea stocks rose 0.4 per cent, Australia was up 1.2 per cent and Chinese stocks advanced 0.6 per cent
Back home, foreign institutional investors sold shares worth Rs 1,245 crore while domestic institutional investors bought shares worth Rs 138 crore on Monday.