Share Market Opening Bell! Sensex gains near 400 pts, Nifty above 17600; banking, financial stocks lead the surge

The Indian market on Monday opened in the green, snapping four days declining trend amid positive global cues. The BSE Sensex gained around 400 points, Nifty was above 17600 levels. The surge was mainly led by banking and financial stocks along with auto metal. 

The BSE Sensex surged by 377 points or 0.64 per cent to 59143 and Nifty50 gained by 83.5 points or 0.48 per cent to 17,615.5 on Monday at the market open. While in the broader markets, Mid-cap Index too opened in the green, up by 162.5 points or 0.53 per cent to 30559 levels today at open. 

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Of 50 scrips on Nifty50, 36 advanced, 14 declined minutes after the market open today. Divis Lab gained most in the early morning trade by over 5 per cent, followed by Tata Motors up near 2 per cent. While Bajaj Finserv, NTPC and ONGC each gained over 1 per cent minutes after market open.

On the contrary, Grasim declined most in the early morning trade by 2.5 per cent, followed by UPL down almost 2 per cent. While metal stocks such as JSW Steel, Tata Steel and Eicher Motors slipped by around 1 per cent minutes after the market open today.

Except for the Nifty FMCG and Metal, all other sectoral indices gained in the early morning trade, with Nifty Bank and Financial Services Indices soared most by almost 1 per cent at the market open. Nifty Media and Realty helped surge the broader markets – mid and small cap on Monday.

On the global front, the US markets on Friday ended higher, as Dow Jones jumped almost 1.5 per cent at the close, while Nasdaq grew near 1 per cent, whereas Asian markets on Monday morning opened mixed with the majority of indices declining, Japans Nikkei down 1 per cent.