Mumbai: The domestic stock market made a strong start on Monday amid falling crude oil prices, fresh buying by foreign institutional investors and positive trend in Asian markets. In early trade, the Sensex rose 448.32 points to 74,743.28, while the Nifty rose 50.30 points to 23,396.70.
There was a rise in these shares
Among the Sensex companies, shares of UltraTech Cement, InterGlobe Aviation, Asian Paints, Sun Pharma, HCL Tech and Trent registered significant gains.
On the other hand, shares of Infosys, Adani Ports, Bharti Airtel and Power Grid remained in the red with a decline in early trade.
Brent crude slipped 2.25 percent
Softness was also seen in the global oil market on Monday. Brent crude fell 2.25 percent to $ 101.5 per barrel. This fall in crude oil prices was a positive sign for the domestic market.
Buying by foreign investors continues
According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 599.54 crore in the Indian stock market on Friday. This buying by foreign investors was also one of the main factors in the initial strength of the market.
Asian markets also on the rise
There was a positive atmosphere in the major markets of Asia on Monday. South Korea's Kospi, China's Shanghai Composite and Hong Kong's Hang Seng were trading with gains. Whereas American markets mostly closed with gains on Friday.
How was the market on Friday?
Earlier on Friday, the Sensex had fallen 19.63 points or 0.03 percent and closed at 74,294.96 points. However, Nifty rose 75.80 points or 0.33 percent to reach 23,346.40.
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