Equity benchmark Sensex rose over 200 points tracking gains in index heavyweights HDFC Bank, Reliance Industries and Kotak Bank amid a mixed trend in global markets.
The 30-share Sensex recovered the losses and gained 209.39 points or 0.35 percent to trade higher at 60,268.45. Similarly, the Nifty rose 77.25 points or 0.43 percent to cross 17,972.45 and set up a new record high.
Leading the gains were Tata Motors, Coal India, Maruti and NTPC with each scrip gaining 2-5 percent. Leading the losses were TCS, Wipro, Infi, and HCL Tech.
Among sectoral indices, Nifty Auto gained over two percent while Metal gained over one percent. Nifty IT fell shed three percent dragged by the TCS, Coforge, Mphasis while Nifty Media was down as well.
Sensex, Nifty trade flat following weak Asian markets; TCS falls 6%, RIL in focus
During the opening, the Indian equity benchmark indices opened lower.
At 9:15 am, the Sensex opened 0.37 percent or 224.84 points lower at 59,834.22. Nifty50 index opened at 17,867.40 - down 27.80 points or 0.16 percent. The broader market indices were trading mixed with midcaps down 0.07 percent while the small-caps rose 0.83 percent.
TCS shares fell almost six percent after the country's largest IT company on Friday reported a net profit of Rs 9,624 crore for the quarter ended September 30, missing Street estimates.
Shares of Reliance Industries Ltd (RIL) rose as much as two percent today after the conglomerate announced two acquisitions over the weekend.
Asian shares slipped on Monday as global inflation angst favoured commodities as a hedge over US equities while rising U.S. bond yields lifted the dollar to two-and-a-half-year peaks against the Japanese yen.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent while Japan's Nikkei 225 index lost 0.5 percent.
Nasdaq futures and S&P 500 futures were both down around 0.1%, but well above early lows. EUROSTOXX 50 futures dipped 0.1% and FTSE futures held steady.
Oil prices extended their bull run, with gains across the energy complex stoking inflation concerns.
First Published: IST