Mumbai In the domestic stock market, Sensex and Nifty registered a rise in early trading on Monday. After the better results of Reliance Industries, the rise in its shares and softening of crude oil prices boosted the sentiment of investors. The excellent quarterly results of Reliance Industries and the fall in crude oil prices filled the market with enthusiasm. Along with this, buying by foreign investors and positive signals from Asian markets also strengthened the market.
Reliance's results boosted market enthusiasm
Among the 30 companies included in the Sensex, shares of Reliance Industries rose more than six percent. The company has reported a record profit of Rs 29,550 crore in the July-September quarter, up 33.8 percent from the same period a year ago. Shares of NTPC, Tata Steel, Power Grid, Maruti and State Bank of India also gained. At the same time, shares of Sun Pharma, Tech Mahindra, Titan and Infosys are trading in decline.
Foreign investors also expressed confidence in the market
Foreign capital inflows and positive trend in Asian stock markets also supported the market sentiment during early trade. BSE Sensex rose 764.72 points to 75,216.80 in early trade and NSE Nifty rose 201.40 points to 23,255.90. In Asian markets, South Korea's Kospi, Japan's Nikkei 225, China's SSE Composite and Hong Kong's Hang Seng are trading in gains. American markets closed with heavy losses on Friday.
Relief from softening of crude oil prices
The price of international oil standard Brent crude oil slipped three percent in futures trading to $ 110 per barrel. According to stock market data, foreign institutional investors (FIIs) bought shares worth a net Rs 3,598.54 crore on Friday. On Friday, Sensex was at 23,053.10 with a gain of 308.49 points and Nifty was at 116.35 points. Its positive effect was also visible on market sentiment.