Sensex, Nifty open at new 2016 high; Midcap index at 11-month high
The Sensex is up 395.44 points or 1.5 percent at 27522.34 and the Nifty is up 113.70 points or 1.4 percent at 8436.90. About 1302 shares have advanced, 207 shares declined, and 48 shares are unchanged. ICICI Bank, Bharti Airtel, L&T, NTPC and BHEL are top gainers.
The Indian rupee gained in the early trade. It has opened higher by 24 paise at 67.12 per dollar versus 67.36 Friday.
In commodity markets, spot gold was a shade higher around USD 1,369.70 per ounce. Crude prices edged down to near two-month lows on seasonally weak consumption, despite comments from Saudi Arabia’s oil minister that the oil market was becoming more balanced.