Indian equity on Monday started at a positive note as BSE Sensex rose over 200 points in early deals to 39,649.47, and the NSE Nifty benchmark climbed to 11,860.8. The S&P BSE index rose by 249.57 points and touched 39,644 marks in early trade and Nifty benchmark rose by 71 points to 11,860.
Buying has been witnessed in several sectors by banking, auto, and metal shares. Top gainers in early trade were Tata Steel, NTPC, Bajaj Auto, HDFC Bank, Axis Bank, Hero MotoCorp, PowerGrid, and Tata Motors. On the other hand, the top losers were SBI, Yes Bank, Bharti Airtel, Maruti, HCL Tech, HUL and RIL.
The market sentiment got a major boost after the Prime Minister Narendra Modi and US President Donald Trump eased concerns over US-India trade issues at the G20 summit in Osaka, Japan. Reports said the stock market is also upbeat amid expectations of reforms from the upcoming Union Budget 2019 which will be presented by Finance Minister Nirmala Sitharaman on July 5, 2019.
The recent rising has been seen as the reports of US President Donald Trump and Chinese President Xi Jinping agreed to restart the US-China trade negotiations. As per the latest market update, the rupee has recovered from the lower level and has appreciated 9 paise to 68.93 against the US dollar.
Recently, ahead of the G-20 summit, the Indian stock market rose by 100 points- Sensex and Nifty by 11,900 for the third consecutive day. The S&P BSE index rose by 165.33 points and touched 39,757 marks in early trade and Nifty benchmark rose by 47 points to 11,894.