Opening Bell: Markets snap 6-day falling streak, Sensex & Nifty50 surge up to 0.4% - Eicher Motors soars 5%

The Indian markets snapped a six-day falling streak to open positive on Monday amid positive global cues. Both the benchmark indices – Sensex surged over 150 points, while Nifty50 above 15800-level at the market open today.

At the market open, the BSE Sensex was up 152.7 points or 0.29 per cent to 52946 levels, while Nifty50 was up 63 points or 0.4 per cent to the 15845-mark. Outperforming the benchmarks, the broader markets – mid-cap and small-cap gained 0.5 and 0.8 per cent at the open, respectively.

The 12-share banking index – Nifty Bank too surged at the market open by over 0.4 per cent to 33256-level, aided by AU Small Finance Bank and PNB.

As many as 42 stocks advanced and 8 declined on Nifty50 in the early morning trade. Eicher Motors gained most by over 5 per cent, followed by JSW Steel and Tata Steel each up over 3.5 and 2.5 per cent, similarly, Adani Ports and Apollo Hospitals surged nearly 2.5 per cent in the morning trade.

On the contrary, cement stocks such as Shree Cement and Ultratech Cement declined most by around 2 per cent each, followed by Dr Reddy’s down almost 1 per cent in the early morning trade. While Nestle India, Cipla, HUL, and Bajaj Finserv are other weak stocks in a positive market.

Sectorally all indices gained minutes after the market open – Nifty Metal surged most by over 3 per cent, followed by auto and PSU Bank indices each up around 2 per cent. Nifty Bank, Financials, Oil & Gas and Realty each up over 1 per cent in the early morning trade on Monday.