Stock Market: Sensex and Nifty gains over 200 and 30 points respectively in early trade

The domestic stock market began its business on a positive note on Monday, the very first day of the week. In the first few minutes of trade, the Sensex traded at 33,572.74, up 223.43 points, or 0.67 percent, while Nifty was at 10,067.75, with a gain of 37.75 points, or 0.38 percent.

Notably, the Sensex opened at 33,549.88 as compared to its last close of 33,349.31. The Nifty50 barometer of the National Stock Exchange (NSE) started at 10,078.10 against its previous close of 10,030. Also, the Indian rupee opened higher by 17 paise at 73.29 per dollar versus Friday’s close 73.46.

However, China’s Shanghai Composite Index was down by 1.31 percent and Japan’s Nikkei index traded at 0.09 percent lower. On the other hand, Hong Kong’s Hang Seng index was up 0.19 percent.

On Friday, Reuters reported that US’ S&P 500 ended at its lowest level since early May. The Nasdaq registered its biggest weekly drop since March 23 after confirming a correction earlier in the week. The Dow Jones Industrial Average fell 296.24 points, or 1.19 percent, to 24,688.31, the S&P 500 lost 46.88 points, or 1.73 percent, to 2,658.69 and the Nasdaq Composite dropped 151.12 points, or 2.07 percent, to 7,167.21.

According to provisional NSE data, on Friday, foreign portfolio investors sold while domestic institutional investors bought net equities of Rs 1,356.66 crore and Rs 1,875.89 crore respectively.

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