Indian equity benchmarks traded higher in opening deals on Monday, extending their gains for the fourth consecutive session.
Nifty futures trend on the Singapore Exchange (SGX Nifty) indicated a cautious opening for the domestic indices.
Asian shares were sluggish as China’s official measure of factory activity contracted in July.
Back home, the 30-share BSE Sensex rose 226 points or 0.39 per cent to 57,796 in early trade, while the broader NSE Nifty was trading 85 points or 0.50 per cent higher at 17,243.
Mid- and small-cap stocks were positive as Nifty Midcap 100 gained 0.27 per cent and small-cap by 0.32 per cent.
Nine of the 15 sector gauges compiled by the National Stock Exchange were trading in the green. The sub-indices Nifty Auto and Nifty Metal were the outperformers on the NSE platform with gains of 1.34 per cent and 0.84 per cent respectively.
On the stock-specific front, M&M Nifty was the top gainer as the stock rose 5.91 per cent to Rs 1,229.80. Cipla, Maruti, Tata Motors and PowerGrid were also gainers.
Overall, the market range was strong as 1,833 stocks were leading while 787 stocks were falling on the BSE.
M&Ms Maruti, PowerGrid, Reliance Industries, UltraTech Cement, Bajaj Finance, Wipro, Tata Steel, Dr Reddy’s, Asian Paints, Bharti Airtel and HCL Technologies were among the top gainers on the 30-share BSE index.
Along with this, shares of Life Insurance Corporation of India (LIC), the country’s largest insurance company and the largest domestic financial investor, are trading 0.37 percent higher at Rs 680.35.
In contrast, Sun Pharma, IndusInd Bank, Hindustan Unilever, Axis Bank, Titan and TCS were trading in the red.
On Friday, the Sensex closed 712 points or 1.25 per cent higher at 57,570, while the Nifty was up 229 points or 1.35 per cent at 17,158.