The Indian market started on a positive note on Monday, New Year’s eve, with the Nifty50 starting above 10,900 mark.
Benchmark equity indices extended Friday’s gains on largely positive global cues, as US and China are set for fresh trade negotiations. The overall trading, however, may remain muted due to holiday. For India, an uptick in global crude oil prices and its impact on the movement of the rupee will be closely watched.
The Sensex jumped over 166 points, or 0.46 percent, to 36,243 in early trade, while the Nifty was trading at 10,916, up by over 56 points, or 0.52 percent.
Broader markets also surged with the Nifty MidCap rising well over half a percent.
All 43 sectors advanced with BSE Metal, realty, telecom and Nifty PSU Banks among the top sectoral gainers, rising by 0.86 percent.
Among gainers, Indiabulls Housing Finance, Hindalco, Tata Motors, Vedanta and Tata Steel rose by up to nearly 1.5 percent. HPCL, BPCL, NTPC, ONGC and Adani Ports dropped by up to 0.74 percent.
Shares of Reliance Industries will be in focus as the company's wholly-owned subsidiary Reliance Industrial Investments and Holdings will acquire 88 percent stake in Kanoda Energy Systems for Rs 750 million.
In currency space, the Indian rupee opened stronger at 69.80 per US dollar on Monday, up 14 paise from its Friday's close of 69.94.
In Asia, Japan's Nikkei was closed. Hong Kong's Hang Seng was marginally up by 0.10 percent.
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First Published: IST