Sensex rallies over 264 points in early trade; Nifty tops 11,500

New Delhi: Markets opened in the positive zone on Monday tracking gains in index majors amid positive global cues and fresh foreign fund inflow.

The 30-share BSE index was trading 265.15 points or 0.68 per cent higher at 39,119.70 while the NSE Nifty rose 68.60 points or 0.60 per cent to 11,533.05.

Major gainers in the Sensex pack were HCL Tech, Tech Mahindra, Infosys, TCS, ONGC, M&M, Axis Bank, SBI, IndusInd Bank, RIL, HDFC and Titan, rising upto 6.30 percent. On the other hand, major losers were Asian Paints, Sun Pharma, HUL, Bajaj Finance, Bharti Airtel, Nestle, Powergrid, Maruti, Kotak Bank, Bajaj Finserve, Bajaj Auto and ITC, falling upto 1.16 percent.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan was up 0.7%, poised for its second straight session of gains. Australian shares climbed 0.6% while Japan`s Nikkei added 0.7%. Chinese shares started firm with the blue-chip index rising 0.6%. U.S. stock futures, the S&P 500 e-minis, jumped more than 1% after a mixed session on Wall Street last week, as per a Reuters report.

In the previous session, Sensex ended 14.23 points or 0.04 per cent higher at 38,854.55, while the broader Nifty rose 15.20 points or 0.13 per cent to close at 11,464.45.

Exchange data showed that foreign institutional investors bought equities worth Rs 1,175.81 crore on a net basis on Friday.