Nifty above 11,100-mark; metal, bank stocks gain

ONGC, Bharti Airtel, Hero Moto, Tata Steel, and Dr Reddy's were the top gainers while TCS, Nestle, and HUL, traded in the red on the Nifty50 index.

Sep 28, 2020 09:09 IST India Infoline News Service

Benchmark indices started the week on a higher note led by gains in metal, pharma, and auto indices rising over 1% each in the opening trade.

At 9:18 AM, the Sensex was up 188 points at 37,577 while the Nifty rose 55 points at 11,105. Broader markets also rose in early deals with the Nifty Midcap and Nifty Smallcap rose 1% and 1.5%, respectively.

ONGC, Bharti Airtel, Hero Moto, Tata Steel, and Dr Reddy's were the top gainers while TCS, Nestle, and HUL, traded in the red on the Nifty50 index.

Meanwhile, Standard and Poor's (S&P) on Friday forecast a spike in India's debt levels to 90.6% of GDP in FY21 from 73.4% a year before, saying the economy has been hard hit "by the confluence of the Covid-19 pandemic, the country's own cyclical slowdown, and strict domestic containment measures against the coronavirus".
The dollar hovered near a two-month peak against at a basket of currencies on Monday as investors look to a barrage of upcoming economic data and political developments in the United States before making any fresh bets on the US currency.

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