The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking a bullish trend across markets in Asia as worries over the health of German lender Deutsche Bank receded after reports appeared that it was set to be nearing a less-costly settlement than earlier feared, bolstering risk taking appetite.
Caution ahead of Tuesday’s keenly awaited RBI monetary policy review which will be the first one for new governor Urjit Patel may also weigh on the markets later in the day.
At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28123.5 up by 257.54 points or by 0.92 per cent, while the NSE Nifty was at 8695.85 points, trading higher by 84.7 points or by 0.98 per cent.
The BSE Sensex touched an intraday high of 28137.85 and an intraday low of 27919.89 while the NSE Nifty touched an intraday high of 8701.15 and an intraday low of 8635.
The top gainers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 5677.95,+3.63 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 264.15,+2.88 per cent), Mahindra & Mahindra Ltd. (Rs. 1445.20,+2.79 per cent), Hero MotoCorp Ltd. (Rs. 3504.50,+2.64 per cent), Bajaj Auto Ltd. (Rs. 2896.10,+2.26 per cent), among others.
Meanwhile, Tata Consultancy Services Ltd. (Rs. 2403.95,-0.96 per cent), Infosys Ltd. (Rs. 1030.25,-0.76 per cent), Wipro Ltd. (Rs. 475.75,-0.40 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 256.00,-0.27 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2232 shares traded, 1813 shares advanced, 357 shares declined while 62 were unchanged.
On the global front, Asian stocks were trading higher today as investors weighed the prospects of a further US interest rate hike and a report on business sentiment out of Japan. US stocks closed higher in the previous trading session as Deutsche Bank shares rebounded amid a report that the German banking giant was near a settlement with the Justice Department.