Market update: Sensex up 300 points in early trade; Nifty tops 11,550

Domestic equity benchmark Sensex jumped over 300 points in early trade on Monday tracking gains in index majors Reliance Industries, HDFC twins and HCL Tech amid positive global cues and fresh foreign fund inflow.

The 30-share BSE index was trading 340.10 points or 0.88 per cent higher at 39,194.65; while the NSE Nifty rose 89.15 points or 0.78 per cent to 11,553.60.

HCL Tech was the top gainer in the Sensex pack, surging around 5 per cent, followed by Tech Mahindra, HDFC duo, Reliance Industries, TCS, SBI and IndusInd Bank.

On the other hand, HUL, Asian Paints, Maruti, Bajaj Auto and Nestle India were among the laggards.

In the previous session, Sensex ended 14.23 points or 0.04 per cent higher at 38,854.55, while the broader Nifty rose 15.20 points or 0.13 per cent to close at 11,464.45.

Exchange data showed that foreign institutional investors bought equities worth Rs 1,175.81 crore on a net basis on Friday.

Domestic equities opened on a positive note tracking positive cues from global markets and persistent foreign fund inflow, traders said.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with gains in mid-day deals after Biopharmaceutical giant AstraZeneca and the University of Oxford on Saturday resumed trials for their coronavirus vaccine in the UK after the Medicines Health Regulatory Authority’s approval.

The human trials resumed days after a pause was announced in the trials after an adverse reaction in one of the participants.

Meanwhile, global oil benchmark Brent crude was trading 0.35 per cent lower at $39.97 per barrel.

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