The key Indian equity indices surged on Monday morning with the BSE Sensex gaining over 750 points despite the surge in Covid cases and the shortage of oxygen reported by many hospitals across the country.
Healthy buying was witnessed in banking, finance and metal stocks, when the markets opened on Monday.
Around 10.05 a.m., Sensex was trading at 48,631.00, higher by 752.55 points or 1.57 per cent from its previous close of 47,878.45. It opened at 48,197.37 and has so far touched an intra-day high of 48,667.98 and a low of 48,152.24 points.
The Nifty50 on the National Stock Exchange was trading at 14,552.25, higher by 210.90 points or 1.47 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The Index is venturing closer to its resistance zone which is between 14,500-14,700. If we are successful in getting past that, we will head closer to 15,000. If we turn from these levels, we might drift down to re-test the recent lows of 14,150-14,200."
The top gainers on the Sensex were ICICI Bank, Axis Bank and UltraTech Cement, while the major losers were HCL Technologies, Tech Mahindra and Sun Pharmaceutical Industries.
