Market in green, Nifty trades at 18,600

Indian benchmark indices are trading with gains on Monday morning session, extending their previous day’s rally. Shares of ICICI Lombard General Insurance rose as much as 12% on Monday, a day after ICICI Bank board approved raising its stake in the general insurance arm by 4% in multiple tranches.

Rupee rises 7 paise to 82.53 against US dollar in early trade.

The US market ended the previous session with gains. While in Asian markets, Seoul and Tokyo traded in positive territory.

Sensex surges 500 points, tops 63K; all index stocks gain; Nifty Bank hits record high.

At around 10.25 AM, BSE Sensex is trading 396 points higher at 62898.21. NSE Nifty is trading up by 100 points at 18600.20.

M&M, SBI Life Insurance, HDFC, IndusInd Bank and Hindalco were among major gainers on the Nifty.

On the losers’ chart, ONGC topped the chart. Sun Pharma, Dr Reddy’s Labs, Divis Labs and Cipla trading on a marginal downside.

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