Sensex rises over 200 pts in early trade; bank stocks take charge

Mumbai, Aug. 24 (PTI): The BSE benchmark Sensex jumped over 200 points in early trade on Monday, led by gains in financial stocks amid firm cues from global markets.

The BSE index was trading 201.64 points or 0.52 per cent higher at 38,636.36; while the NSE Nifty was up 65.05 points or 0.57 per cent at 11,436.65.

Kotak Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by Asian Paints, HDFC duo, Tata Steel, IndusInd Bank, ICICI Bank and SBI.

On the other hand, HCL Tech, Tech Mahindra, PowerGrid, Titan, Infosys and TCS were among the laggards.

In the previous session, the Sensex closed 214.33 points or 0.56 per cent higher at 38,434.72; while the Nifty rose 59.40 points or 0.53 per cent to close at 11,371.60.

Exchange data showed that foreign institutional investors bought equities worth INR 410.16 crore on a net basis on Friday.

Traders said domestic bourses followed positive trend in global equities.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with significant gains in mid-day deals.

Global oil benchmark Brent crude was trading 0.04 per cent lower at USD 44.91 per barrel.