Sensex rises 500 points, banking and financials lead rally; Nifty above 11,770

New Delhi: Markets opened in the green on Monday with the BSE Sensex rising nearly 500 points in early trade led by gains in banking and financials.

The BSE Sensex rose 499.59 points or 1.27 percent to 39,966.90 in early trade while the NSE Nifty jumped 132.10 points or 1.13 percent to 11,779.70.

Major gainers in the Sensex pack were IndusInd Bank, Axis Bank, ONGC, HDFC Bank, ICICI Bank, HFDC, Bajaj Finance, RIL, ITC, LT and HCL Tech, rising upto 4.56 percent. On the other hand, major losers were Bharti Airtel, Sun Pharma, HUL, Bajaj Auto and Ultrachem, falling upto 0.95 percent.

Asian shares notched a 29-month high on Monday, a Reuters report said. MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.5% to reach its highest since March 2018, extending a 2.8% gain last week. Chinese blue chips firmed 0.7% to reach levels not seen since mid-2015. E-Mini futures for the S&P 500 climbed another 0.5%, while EUROSTOXX 50 futures added 1%. Tokyo`s Nikkei rallied 1.9%, Reuters added.

In the previous session on Friday, the BSE Sensex ended 353.84 points or 0.90 per cent higher at 39,467.31. The NSE Nifty surged 88.35 points or 0.76 per cent to close at 11,647.60.