Investors turned optimistic ahead of key corporate earning of index heavyweights this week.
Mumbai: The BSE Sensex was trading higher by 119.85 points in late morning deals on buying led by key frontline shares in IT, Teck, realty, healthcare, telecom, energy and auto sectors, despite weak Asian cues.
Investors turned optimistic ahead of key corporate earning of index heavyweights this week. Meanwhile, shares of Tata Consultancy Services (TCS) on Monday surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over USD 100 billion (Rs 6,80,912.10 crore).
Key metal shares, however, witnessed profit-booking. The 30-share index was trading higher at 34,585.45 at 1100Hrs, reflecting a gain of 119.85 points, or 0.35 per cent. The broader Nifty50 was also trading above the 10,600 level at 10,611.20, down 47.15 points or 0.45 per cent. Major gainers were TCS, IndusInd Bank, Yes Bank, M&M and Reliance Industries.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 21.02 crore on a net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 111.01 crore last Friday, provisional data showed.
Asian markets were trading lower as investors kept an eye on rising US treasury yields. US stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations.