The BSE Sensex gained over 308 points, or 0.86 percent, to 35,965.93, while the Nifty was trading higher by over 76 points, or 0.71 percent, to 10,849.50 at 2.30pm IST. BSE MidCap trades higher by 1.08 percent, while the NSE MidCap has gained over 1.30 percent. Shares of Yes Bank, Asian Paints, Axis Bank, Vedanta, Dr Reddys Labs, Sun Pharma were among top gainers, while TCS, HDFC, IndusInd Bank, Hero MotoCorp, Baja Auto, UltraTech Cement, Titan Company were among top losers.

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(Market update as of 2.32 pm IST)

Here's how markets fared in the pre-noon session

Markets rally higher in the pre-afternoon session after opening higher on Monday buoyed by buying in metals, auto, IT and banking shares and amid positive global cues.

The Indian rupee’s strong opening in the morning trade added to the sentiment.

The benchmark index rose over 200 points in early trade, while the Nifty reclaimed the 10,800-level. At 11.30 am IST, the Sensex was nearly 200 points up, or 0.56 percent, to 35,857.53, while the 50-share broader NSE index was at 10,830, gaining 57.00 points, or 0.53 percent.

All sectoral indices, led by metal, auto, infrastructure, power, capital goods, healthcare and bankex, were in the green, rising up to 1.62 percent.

The BSE Bankex was trading higher by over 250 points led by Federal Bank, Axis Bank, Yes Bank, ICICI Bank, PNB and SBI. Jindal Steel, Vedanta, Hindalco, Nalco, Hindustan Zinc, Sail, Tata Steel, NMDC, led the rally in BSE Metal.

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Investors also await the beginning of the quarterly earnings season, particularly results of IT majors such as TCS and Infosys. TCS shares, however, were trading lower by 1.22 percent at Rs 1,890.00.

In the opening trade, the Indian rupee rose by 30 paise to trade at 68.57 against the US dollar, fueling the uptrend in domestic equities. The home currency, however, was trading at 68.66 at 11.40 am IST.

Asian shares extended Friday’s gains, tracking gains on Wall Street after the June data showed more job creation in the US economy, which offset the impact of an escalating US-China trade dispute.

Japan’s Nikkei was up by 1.23 percent, while Hang Seng was trading high by 1.61 percent at 11.40 am IST. China's Shanghai Composite Index advanced 1.65 percent. The US Dow Jones Industrial Average ended 0.41 percent higher on Friday.

First Published:Jul 9, 2018 12:38 PM IST