Markets open higher, Nifty reclaims 11,500; Nifty Bank hits record high led by Kotak Bank, Axis Bank

Sensex, Nifty opened higher for the sixth straight session with Nifty reclaiming 11,500  levels on Monday following Asian Markets that advanced ahead of US Federal Reserve meet starting tomorrow. The investors expect the US Fed to maintain its dovish stance at the policy meet.

At 9:20 am, the S&P BSE Sensex was trading at 38,293, up 269 points, while the broader NSE Nifty50 was ruling at 11,498, adding 72 points. Meanwhile, broader markets were in-line with the frontline indices with the Nifty MidCap rising 0.4 percent and Nifty Smallcap gaining 0.5 percent.

Kotak Bank, Powergrid, IndusInd Bank, M&M, and HDFC Bank were top gainers on BSE Sensex while, Maruti Suzuki, Vedanta, Sun Pharma and NTPC were top losers in the index.