New Delhi: The Indian equity benchmarks on Monday traded higher in opening deals led by buying in all sectors. Asian share markets made guarded gains ahead of a week that is likely to see a rise in UK interest rates and mixed reports on U.S. jobs and manufacturing, while surging oil prices add to worries over inflation.
Oil rose 1 per cent, hovering near 7-year highs hit in the previous session, amid concerns over tight supply as well as geopolitical tensions in Eastern Europe and the Middle East.
Back home, as of 9:21 am, the 30-share BSE Sensex jumped 736 points or 1.29 per cent to 57,936; while the broader NSE Nifty moved 223 points or 1.30 per cent higher to 17,325.
Mid- and small-cap shares were positive as Nifty Midcap 100 index was up 1.53 per cent and small-cap shares were trading 1.50 per cent higher.
On the stock-specific front, ONGC was the top Nifty gainer as the stock surged 3.23 per cent to Rs 174.25. Tech Mahindra, Wipro, Bajaj Finance and Asian Paints were also among the gainers. In contrast, Larsen & Tourbo (L&T), IndusInd Bank and NTPC were among the losers.
The overall market breadth was strong as 2,134 shares were advancing while 601 were declining on BSE.
On the 30-share BSE platform, Wipro, TechM, Titan, Infosys, HCL Tech and Bajaj Finance attracted the most gains with their shares rising as much as 3.50 per cent.
Meanwhile, Finance Minister Nirmala Sitharaman will table the Economic Survey for 2021-22 in the Lok Sabha today. She will present the Union Budget for 2022-23 on Tuesday.
Sensex had slipped 77 points or 0.13 per cent to close at 57,200 on Friday (January 28), while the broader Nifty had settled 8 points or 0.05 per cent lower at 17,102.