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Sensex rallies over 300 points; Auto, IT, Metal Index gain

Benchmark indices opened higher on the first day of Budget week as Sensex and Nifty hit fresh record highs tracking the positive trend in Asian peers. Morning gains were led by Maruti Suzuki, TCS and HDFC.

The stock markets were closed on Friday on account of ‘Republic Day’ holiday.

The stock market on Thursday took a breather after a six-session dizzying rally, with benchmark indices Sensex and Nifty skidding from their closing peaks after the emergence of sell-off in recent high-flying counters.

At 10:31 AM, the BSE Sensex was trading at 36,359, up 309 points, while the broader Nifty50 index was ruling at 11,145, up 76 points.

Maruti Suzuki stock rose over 3% after it revised the royalty calculation terms with its Japanese parent Suzuki Motor favorably, the company said in the BSE filing. It will lower royalty payments for new models starting with the Ignis.

Shares of Strides Shasun jumped 5% after the company said its subsidiary has received approval for tenofovir disoproxil fumarate tablets from the US Food and Drug Administration.

The Indian rupee was trading marginally weaker against US dollar.

Volatility index India VIX gained 3.61% at 18.1400.

Maruti (+3.2%), Vedanta (+2.6%), Eicher (+2.5%), Tata Steel (+2.4%) and TCS (+2.3%) were the top gainers on Nifty50

Dr.Reddy’s (-4%), Airtel (-2.5%), HPCL (-1.9%), ONGC (-1.6%) and BPCL (-1%) were the top losers in today’s trade.

Out of 2,013 stocks traded on the NSE, 1,057 advanced, 525 declined and 431 remained unchanged today.

A total of 34 stocks registered a fresh 52-week high in trade today, while 11 stocks touched a new 52-week low on the NSE.

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