Sensex andNifty opened in the green and climbed in early trade.- The increase was reported amid buying in IT and
bank stocks . - Tata Steel, Power Grid, Axis Bank, JSW Steel, Reliance and NTPC were the laggards.
Asian Paints, Bharti Airtel, Infosys, Mahindra & Mahindra, Titan, Bajaj Finance,
IT services major HCL Technologies on Monday reported a 10.51% increase in consolidated net profit to ₹4,235 crore in the July-September quarter of FY25, as the company raised the lower band of its growth guidance on the back of better-than-expected performance.
Reliance Industries on Monday reported a 5% fall in the July-September quarter net profit as weak oil refining and petrochemical business hurt operational performance.
"The sharp cut in Brent crude by 3% is a macro positive for India, but CPI inflation for September coming worse-than-expected at 5.49% is a concern...," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Soaring vegetable prices pushed the retail inflation rate to a nine-month high of 5.49% in September, according to government data released on Monday.
Global oil benchmark Brent crude dropped 2.98% to $75.15 a barrel.
In
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,731.59 crore on Monday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth ₹2,278.09 crore.
"Even though FIIs continue to sell, the intensity of their selling has come down reducing the pressure on largecaps," Vijayakumar added.
The BSE benchmark Sensex jumped 591.69 points or 0.73% to settle at 81,973.05 on Monday. The Nifty climbed 163.70 points or 0.66% to 25,127.95.
"The Nifty continues to show resilience, with bullish momentum supported by positive global market trends and strong Q2 earnings from HCL Tech," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
With inputs from PTI.
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