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Mumbai: Equity benchmark indices climbed in early trade on Monday after falling in the past two trading sessions amid optimism in the US markets and buying in IT counters. The 30-share BSE Sensex climbed by 158.02 points to reach 62,783.65 in early trade. The NSE Nifty advanced by 70.2 points to reach 18,633.60.
The 30-share BSE benchmark fell 223.01 points or 0.35 percent to settle at 62,625.63 on Friday. The Nifty went lower by 71.15 points or 0.38 percent to end at 18,563.40. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 308.97 crore on Friday, according to exchange data.
From the Sensex pack, Infosys, HCL Technologies, Tata Steel, Bajaj Finance, Tech Mahindra, Tata Motors, Mahindra & Mahindra and Tata Consultancy Services were the major gainers. Larsen & Toubro, Titan, Reliance Industries, Axis Bank, and IndusInd Bank were among the laggards.
In Asian markets, Tokyo quoted in the green, while Seoul, Shanghai, and Hong Kong were trading lower. The US markets ended in positive territory on Friday. Global oil benchmark Brent crude declined by 1.12 percent to USD 73.95 a barrel.
"This week, markets will react to a flurry of important economic data. US inflation data on June 13, Federal Open Market Committee (FOMC) rate decision on June 14, European Central Bank (ECB) rate decision on June 15, and India's IIP and May CPI data today will give an indication of the likely economic and market direction. Markets are approaching these data points with cautious optimism as reflected in bullish market conditions," VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
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