Equity benchmark indices were up during early hours on Monday on the back of RBI’s support to liquidity and indications of robust corporate earnings from segments like IT, pharma, metal and leading financials.
At 10:15 am, the BSE S&P Sensex was up by 257 points or 0.52 per cent at 49,477 while the Nifty 50 ticked higher by 86 points or 0.6 per cent to 14,909.
Except for Nifty IT, all sectoral indices at the National Stock Exchange were in the green with Nifty pharma up by 2.3 per cent, metal by 1.6 per cent and auto by 0.5 per cent.
Among stocks, Coal India moved up by 4.1 per cent to Rs 142.50 per share. Pharma majors Dr Reddy’s and Sun Pharma were up by 3.3 per cent and 1.9 per cent respectively.
The others which gained were Hindalco, Tata Steel, UPL, ONGC and HDFC. However, those which lost were UltraTech Cement, Infosys, HCL Technologies, Britannia, HeroMoto Corp and Bajaj Auto.
Meanwhile, Asian stocks rose amid speculation that interest rates will remain low due to receding inflationary pressure.
MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.35 per cent while US stock futures rose 0.24 per cent.
Japanese shares gained 0.91 per cent and South Korea’s Kospi was up by 1.54 per cent.