Sensex Rises Over 150 Points in Early Trade; Nifty Tops 11,900

In the previous session, Sensex ended 448.62 points or 1.12 per cent higher at 40,431.60. The broader NSE Nifty surged 110.60 points or 0.94 per cent to finish at 11,873.05. Exchange data showed that foreign institutional investors bought equities worth Rs 1,656.78 crore on a net basis on Monday.

Buying in specific index-heavyweight stocks lifted benchmark indices despite negative cues from global markets, traders said. According to Arjun Yash Mahajan, Head Institutional Business at Reliance Securities, major financial services and insurance (BFSI) stocks may see some amount of consolidation at these levels before making any further direction.