Mumbai: Stock market benchmark indices Sensex and Nifty rallied in early trade on Monday, in line with firm global market trends and a sharp jump in Kotak Mahindra Bank shares. The 30-share BSE benchmark Sensex climbed 398.21 points to 77,017.54 in early trade. The NSE Nifty went up 105.15 points to 23,308.35.
From the 30-share blue-chip pack, Kotak Mahindra Bank jumped 9 per cent after the firm posted a 10 per cent growth in its consolidated net at Rs 4,701 crore, aided by the performance of capital markets-linked arms. State Bank of India, NTPC, Power Grid, Reliance Industries, Tech Mahindra and Bajaj Finance were the other gainers.
However, IndusInd Bank, Tata Motors, Tata Consultancy Services, Adani Ports, Axis Bank and Mahindra & Mahindra were among the laggards. In Asian markets, Tokyo, Shanghai and Hong Kong traded in the positive territory while Seoul quoted lower.
US markets ended in the green on Friday. "Globally stock markets will be in a wait and watch mode as Trump 2.0 unfolds today. Markets will wait and watch for the nature of the decisions and their likely impact," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Global oil benchmark Brent crude dipped 0.17 per cent to USD 80.65 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,318.06 crore on Friday, according to exchange data.
The BSE benchmark declined 423.49 points or 0.55 per cent to settle at 76,619.33 on Friday. The Nifty dropped 108.60 points or 0.47 per cent to 23,203.20.
