Share Market Opening Bell! Sensex, Nifty open positive near record-high levels; IT stocks surge

The Indian market started the first day of this week’s session on a positive note, as both the benchmark indices were trading at all-time high levels during the market opening on Monday. Nifty was trading above 16300-mark and Sensex over 54450-level.

The BSE Sensex surged over 186 points or 0.34 per cent higher to 54,464 while Nifty grew around 62 points or 0.38 per cent to 16,300 levels at the market open today. In the broader markets category, the mid-cap index opened flat but positive by 3.5 points or 0.01 per cent to 27949 on Monday.    

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Similarly, another important index, Nifty Bank, surged almost 110 points or 0.31 per cent to 35919 levels today at the market open, powering more to the Nifty50.        

Of 50 scrips on Nifty50, 43 advanced, 7 declined minutes after the market open today. Information and technology stocks surged most at the open on Monday, with four of the five top buzzing companies being from the IT sector. Tech Mahindra gained most by around 2.5 per cent at the market open today.

While HCL Tech and Wipro followed Tech Mahindra, surging over 1 per cent in the early morning trade, while Infosys grew by around 1 per cent and Shre Cement too trading near 1 per cent.

On the contrary, ONGC slumped most at the open by over 1 per cent, followed by Reliance Industries which continued to decline by around 1 per cent today. Tata Consumers declined by half a per cent, while Kotak Mahindra Bank and Cipla fell by a quarter per cent minutes after the market open today. 

In the early morning trade, almost all sectoral indices gained, except for metal and pharma stocks which slipped by 0.3 per cent each. Nifty FMCG and IT stocks gained the most and have been keeping the benchmark indices in the green on Monday. 

On the global front, the US indices bounce back on Friday as jobs data beat all estimates with the unemployment rate falling to 2-year lows. While Asian markets on Monday opened negative as with the Japanese, Singapore markets shut for a holiday most other markets were trading lower.

The Nifty closed in the red on Friday as profit-booking near 16300 saw Reliance lead the losers with banks also seeing strong selling pressure near 36000.