Mumbai: Market benchmark indices started the trade on a firm note on Monday, with the Sensex climbing 485.98 points amid positive trends in global equities and buying in IT shares. The 30-share BSE benchmark was trading 485.98 points higher at 54,246.76. The broader NSE Nifty advanced 126 points to 16,175.20 in early trade.
Among the Sensex constituents, Infosys, Tech Mahindra, Larsen & Toubro, Sun Pharma, IndusInd Bank, Wipro, Tata Steel and UltraTech Cement were the major gainers. HDFC Bank, Mahindra & Mahindra and HDFC were the laggards.
In Asia, markets in Seoul, Shanghai and Hong Kong were trading significantly higher. The US markets had ended sharply higher on Friday.
Meanwhile, international oil benchmark Brent crude jumped 0.72 per cent to USD 101.89 per barrel. The BSE barometer climbed 344.63 points or 0.65 per cent to settle at 53,760.78 on Friday and the Nifty advanced 110.55 points or 0.69 per cent to 16,049.20.
Foreign institutional investors went in selling mode as they offloaded shares worth Rs 1,649.36 crore in the capital market on Friday, as per exchange data.