BENGALURU: Markets traded higher on Monday, lifted by sharp gains in heavyweight State Bank of India and consumer stocks on robust earnings results.
The NSE Nifty 50 index rose 0.57% to 18,219.80 as of 0351 GMT, while the S&P BSE sensex was 0.50% higher at 61,255.21.
The benchmark indexes added nearly 2% each last week in their third straight weekly gain.
In early trades on Monday, Nifty’s FMCG, automobile, and public sector bank indexes were among the top performers, climbing between 1% and 5.6%.
Britannia Industries Ltd and State Bank of India were the top gainers on the Nifty 50, advancing 8% and 4.6%, respectively, after the companies reported a rise in quarterly profit.
State-run Coal India Ltd and digital payments firm Paytm were up more than 1% each, ahead of their quarterly results.
Further aiding sentiment, provisional data with the National Stock Exchange showed foreign institutional investors bought net of $175.20 million equities on Friday.
The NSE Nifty 50 index rose 0.57% to 18,219.80 as of 0351 GMT, while the S&P BSE sensex was 0.50% higher at 61,255.21.
The benchmark indexes added nearly 2% each last week in their third straight weekly gain.
In early trades on Monday, Nifty’s FMCG, automobile, and public sector bank indexes were among the top performers, climbing between 1% and 5.6%.
Britannia Industries Ltd and State Bank of India were the top gainers on the Nifty 50, advancing 8% and 4.6%, respectively, after the companies reported a rise in quarterly profit.
State-run Coal India Ltd and digital payments firm Paytm were up more than 1% each, ahead of their quarterly results.
Further aiding sentiment, provisional data with the National Stock Exchange showed foreign institutional investors bought net of $175.20 million equities on Friday.
