By Malvika Gurung
Investing.com — The fiscal week kicked off with India’s benchmark equity indices opening higher as the government tables the economic survey on Monday, while tracking positive global signals and large-scale buying.
opened 1.17% higher and the 30-scrip opened green at 1.16% on Monday. As of 1:21 p.m., Nifty and Sensex were trading at 1.57% and 1.8% respectively, or 1,032.76 points higher.
The market will be watching closely for important economic numbers coming out of the Economic Survey and Budget session, as well as auto sales news, manufacturing records and PMI surveys, in addition to the latest updates from Covid.
At the time of writing, 90% of stocks listed on Nifty50 and Sensex were trading in the green, with IndusInd Bank (NS:) being the biggest laggard, trading down 3.38%.
By 12:30 p.m., Dalal Street investors had added Rs 4 lakh crore to their wealth.
All sector indices in the Nifty basket were trading in the green, taking over Nifty IT’s position as the best performing index, up 3.1%, while gaining 2.9%. All stocks in the index were trading positively, with Mindtree (NS:) up 6.3% and Larsen & Toubro (NS:) Infotech (NS:), up 5.4%.
gained 1.07%, while trading 2.6% higher.
Meanwhile, industry heavyweights Tata Motors (NS:), Sun Pharmaceutical Industries (NS:), Bharat Oil Corp (NS:) and Indian Oil (NS:) are expected to report results on Monday.