Sensex gains over 280 points in early trade; Nifty above 17,600

Benchmark indices began the trade on a positive note on Monday, tracking gains in index majors Reliance Industries, ICICI Bank and HDFC Bank amid a mixed trend in global markets.

The BSE Sensex climbed 286.36 points to 59,089.69 in early trade. Likewise, the NSE Nifty advanced 77.9 points to 17,617.35.

From the Sensex pack, ICICI Bank, Tech Mahindra, ITC, HCL Technologies, Tata Steel, Axis Bank, Reliance Industries, IndusInd Bank and HDFC Bank were the major gainers in early trade.

In contrast, Nestle, PowerGrid, Mahindra & Mahindra, Dr Reddy’s and Hindustan Unilever were among the laggards in initial trade.

In the previous session on Friday, the BSE benchmark inched up 36.74 points or 0.06% to settle at 58,803.33. The Nifty dipped 3.35 points or 0.02% to end at 17,539.45.

Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong were trading lower on Monday, while Shanghai quoted in the green in mid-session deals.

The U.S. markets had ended lower on Friday. Equities in Europe had ended on a higher note on Friday.

Meanwhile, the international oil benchmark Brent crude jumped 1.9% to USD 94.79 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth a net ₹8.79 crore on Friday, as per exchange data.