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Stock Market Today: Sensex Surges Over 200 Points, Nifty50 Above 17,200

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The key benchmark indices started in the positive territory today as indicated by global cues.

Nifty50 rose 0.3 per cent, to 17,222 levels, while the S&P BSE Sensex climbed 0.2 per cent to 57,823 levels. 

M&M, Maruti, Powergrid, Reliance, were among the major gainers, with up to 4.8 per cent gains. On the other hand, Sun Pharma, IndusInd Bank, Hindustan Unilever, TCS, were the major laggards, down up to 1.8 per cent. 

Broader markets, too, were positive as Nifty Midcap 100 and Nifty Smallcap 100 inched higher up to 0.5 per cent.

Earlier, Nifty futures on the Singapore Exchange traded 31 points, or 0.18 per cent, higher at 17,262.50, signaling Dalal Street was headed for a positive start on Monday.

Oil prices dropped early on Monday as investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures dropped 63 cents, or 0.6%, to $103.34 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7%, after hitting a session low of $97.55 when trading commenced in Asia.

Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week’s rally on Wall Street could be sustained in the face of determined policy tightening by global central banks.