Sensex builds on early gains, up 2%

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A benchmark index for Indian equities built on its early gains and was ruling more than two percent higher around on Monday noon.

Buying was seen across the board with metals, realty and banking scrips among the top gainers. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,890.8 points, was ruling at 16,019.91 points about 20 minutes into trade — 324.48 points or 2.07 per cent up from its previous close at 15,695.43 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading higher at 4,805.6 points, up 2.03 per cent or 95.55 points from its previous close. Broader markets were also ruling in the green with the BSE 500 index up 1.86 per cent.

The BSE midcap index was trading 1.36 per cent higher, while the BSE smallcap index was up 1.51 per cent. All 13 sectoral indices on the BSE were in the green with metals, realty and banking stocks were among the gainers. The market breadth was positive, with 1,730 stocks advancing and 611 on the decline. Another 72 were unchanged.

On the 30-scrip Sensex there was only one loser — Bajaj Auto. Major gainers included Hindalco, Tata Motors, ICICI Bank and SBI. Asian markets rose on Monday on reports that the International Monetary Fund was considering a plan to help out debt-ridden euro zone economies. The Japanese Nikkei closed 1.56 per cent higher at 8,287.49 points. Hong Kong's Hang Seng closed 2.12 per cent up at 18,064.99 points. The Chinese Shanghai composite index was trading flat at 2,381.85 points.