Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
The benchmark Sensex advanced over 100 points after opening in the green on Monday following optimism in the Asian markets amid signs of easing trade tension between the US and China.
The Sensex of the BSE opened at 35,983.80 from its previous close at 35,871.48 on Friday.
At 9.28 am, the Sensex traded at 35,977.71 higher by 106.23 points or 0.30 per cent.
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The Nifty of the National Stock Exchange (NSE) opened at 10,813.25 after closing at 10,791.65 on Friday. It traded at 10,815.15 during the morning trade session, up 23.50 points and 0.22 per cent.
Realty stocks surged over 2 per cent, gaining the most among the sectoral indices, after the GST council announced a tax cut for under – construction homes on Sunday.
Key sectors – finance and banking – also traded in the green while capital goods and FMCG witnessed selling pressure. Besides, energy stocks also declined.
Markets reacted positively after US President Donald Trump’s Sunday statement: “I will be delaying the US increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi (Jinping) and myself.”
On Friday both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers.
FIIs bought stocks worth Rs 6,311.01 crore while the DIIs purchased scrips worth Rs 838.88 crore.
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