Nifty, Sensex Surge Over 1%, Financial & Banking Pack Lead Gains

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Nifty, Sensex Surge Over 1%, Financial & Banking Pack Lead Gains
Credit: © Reuters.

By Malvika Gurung -- Major indices on Dalal Street made a positive opening to the new week on Monday amid positive global cues and tracking healthy March earnings results last week, thereby adding to the gains further in the morning session on May 8, 2023.

At 11:37 am, benchmark indices Nifty50 jumped 1% to 18,249.8 levels and Sensex surged 652.65 points or 1.07%.

The market fear barometer India VIX gained 2.2% to 12.56 levels in the morning session.

The market mood was supported majorly by banking, financial and auto stocks.

Market heavyweights including Bajaj twins, IndusInd Bank (NS: INBK ), Tata Motors (NS: TAMO ), ONGC (NS: ONGC ), Mahindra & Mahindra (NS: MAHM ) and Hindalco (NS: HALC ) were among the top gainers on Nifty50, while coal miner Coal India (NS: COAL ) was the top loser on the Nifty pack, followed by Dr. Reddy’s Laboratories (NS: REDY ), Adani Enterprises (NS: ADEL ) and Larsen & Toubro (NS: LART ).

Read Also: World’s Largest Coal Miner Declares Rs 4/Share Dividend, Q4 PAT Falls

All sectoral indices under the Nifty umbrella except Nifty PSU Bank , traded with gains on Monday, led by an almost 3% surge in Nifty Realty , while Nifty Private Bank and Nifty Auto jumped too.

Nifty Bank zoomed 1.5% while writing.

Key US contracts Dow Futures slipped 0.04% and Nasdaq 100 Futures dipped 0.02%.

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