Sensex jumps over 290 points; Nifty nears 11,100

The Sensex trading at 294.82 points or 0.79 percent higher at 37,645.15 at 11:36 am; and the Nifty at 82.75 points or 0.75per cent to 11,130.55 at 11:36 am.

Mumbai: Domestic equity benchmark BSE Sensex jumps around 300 points on Monday tracking gains in index heavyweights RIL, ICICI Bank and Infosys amid positive global cues.

The Sensex trading at 294.82 points or 0.79 percent higher at 37,645.15 at 11:36 am; and the Nifty at 82.75 points or 0.75per cent to 11,130.55 at 11:36 am.

The 30-share index pared some opening gains to trade 129.01 points or 0.35 per cent higher at 37,479.34 at 0945 hours, and the broader Nifty too rose 37.45 points or 0.34 per cent to 11,085.25 in morning trade.

In the previous session on Friday, the 30-share Sensex settled 38.80 points, or 0.10 per cent, higher at 37,350.33, while the NSE Nifty gained 18.40 points, or 0.17 per cent, to close at 11,047.80.

Top gainers in the Sensex pack included Sun Pharma, TechM, NTPC, L&T, HCL Tech, Kotak Bank, ICICI Bank, TCS, Infosys, Bharti Airtel, ITC and RIL, rising up to 3 per cent.

While, Yes Bank, PowerGrid, ONGC, SBI, Tata Steel and Vedanta fell up to 2.27 per cent.

Elsewhere in Asia, Hang Seng, Shanghai Composite Index, Nikkei and Kospi were trading significantly higher in their respective late morning sessions, on rising hopes of stimulus by global central banks to counter the economic slowdown.

According to traders, besides positive cues from other Asian markets, domestic investor sentiment was upbeat on expectations of measures from the government to boost growth and revive consumer sentiment.

Meanwhile, foreign portfolio investors sold shares worth a net of Rs 1,339.27 crore on Friday, while domestic institutional investors purchased shares worth Rs 1,058.28 crore, provisional data showed.

On the currency front, the rupee appreciated 8 paise versus the dollar against its previous close to trade at 71.06 in early session.

Brent crude futures, the global oil benchmark, rose 1.09 per cent to trade at 59.28 per barrel.