Indian shares gave up opening gains on Monday as IT and technology, pharma and metal stocks dragged benchmark indexes. Investor sentiment remains cautious ahead of derivatives expiry, the outcome of G-20 summit and macro-economic data later this week.

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The Sensex and the Nifty started higher, tracking positive Asian cues and as macro-concerns eased over a sharp fall in crude oil prices. Asian markets jumped despite the sell-off in US equities on Friday.

The Sensex traded at 35,065, up 84 points or 0.2 percent at 9.20 am, while the Nifty traded at 10,559, higher by 32.50 or 0.3 percent. The Sensex started jumping 137 points at 35,118, while the Nifty was also up by more than 41 points at 10,568.

Broader markets also gained with the Nifty MidCap surged nearly 68 points to start at 17,415. The Nifty Bank opened at 26,096, rising more than 96 points.

As many as 34 sectors were advancing led by BSE Telecom, which surged 1.5 percent, while BSE IT was the weakest among 9 declining sectors. The IT index declined by 1.52 percent.

Yes Bank shares started more than 4 percent lower as promoters monetised some stake via structured deal. Other losers were Infosys, Adani Ports, Tech Mahindra, Vedanta, falling by up to nearly 2 percent.

Among gainers, oil marketing companies sustained their recent gains as crude prices fall below the $60 per barrel mark. Bharti Infratel surged 3.31 percent and Bharti Airtel was up more than 2 percent. Zee Entertainment shares rose 1.73 percent.

The Indian rupee opened higher against the US dollar at 70.46 on Monday, gaining 23 paise against Thursday's close of 70.69.

Asian markets traded higher with Hong Kong's Hang Seng up by more than 450 points or 1.75 percent, while Japan's Nikkei gained 186 points or 0.86 percent at 9.40 am IST.

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First Published:Nov 26, 2018 9:50 AM IST