Sensex jumps over 200 factors in early commerce, Nifty tops 16,300-mark

Equity benchmark Sensex jumped over 200 factors in early commerce on Monday, monitoring positive aspects in index majors Infosys, ITC and HUL amid a constructive pattern in international markets.
The 30-share index was buying and selling 219.52 factors or 0.40 per cent increased at 54,497.24, whereas the broader NSE Nifty superior 65.05 factors or 0.40 per cent to 16,303.25.
M&M was the highest gainer within the Sensex pack, rising over 2 per cent, adopted by Tech Mahindra, Titan, Bajaj Finserv, IndusInd Bank and Asian Paints.
On the opposite hand, Kotak Bank, Reliance Industries, Dr Reddy’s and HDFC Bank have been among the many laggards.

In the earlier session, Sensex ended 215.12 factors or 0.39 per cent decrease at 54,277.72, and Nifty fell 56.40 factors or 0.35 per cent to 16,238.20.
Foreign institutional buyers (FIIs) have been internet sellers within the capital market as they offloaded shares price Rs 69.37 crore on Friday, as per provisional alternate knowledge.
“RBI’s continued soft monetary policy stance to support ongoing economic recovery augurs well for domestic equities,” mentioned Binod Modi Head-Strategy at Reliance Securities.
Further, sooner vaccination course of within the nation and absence of sharp spike in day by day caseload regardless of opening-up economic system bode nicely, he famous.
Also, sharp enchancment in key financial indicators like GST assortment, auto gross sales quantity and different high- frequency indicators like e-way payments in July suggests sustainable rebound in company earnings in subsequent quarters. This ought to help the market to maintain premium valuations, he added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul have been buying and selling with positive aspects in mid-session offers.
Meanwhile, worldwide oil benchmark Brent crude fell 1.82 per cent to USD 69.41 per barrel.