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Opening Bell: Sensex opens 75 points higher, Nifty50 around 12,270; Nifty Bank hits record high

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Indian shares kickstarted the week ahead with gains on Monday. Nifty Bank hit a fresh record high at 32,486.60 on the back of strong gains from HDFC Bank and Kotak Mahindra Bank.

Opening Bell: Sensex opens 75 points higher, Nifty50 around 12,270; Nifty Bank hits record high
Indian benchmark indices BSE Sensex and NSE's Nifty 50 opened higher on Monday led by banks and auto companies. The Nifty Bank hit a fresh record high at 32,486.60 on the back of strong gains from HDFC Bank and Kotak Mahindra Bank. At 9:20 AM, the Sensex opened with 74.96 points higher at 41,650.10 while the Nifty50 opened at 12,269.65, up 23.85 points.
Sensex and Nifty are less than 150 points and 20 points away from their record highs, respectively.
ITC, Sun Pharma, GAIL, Adani Ports and Cipla were the Nifty50 top gainers while YES Bank, Coal India, HDFC, BPCL and SBI were the index top losers.
Shares of Snowman Logistics rallied 7 percent intraday after Adani Group acquired a 40.25 percent stake in the company for Rs 296 crore.
DHFL's shares surged nearly 5 percent intraday on the back of its first committee of creditors meeting under the Insolvency and Bankruptcy Code (IBC).
At the global bourses front, a broad gauge of Asian share markets fell on Monday as investors consolidated gains after scaling 18-month highs last week, while oil was steady after the U.S. carried out airstrikes on an Iranian-backed Shi'ite Muslim militia group in Iraq and Syria.
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