Positive global cues as well as healthy Q2 results pushed equities higher on Monday with the S&P BSE Sensex reaching an intraday high of 61,894.33 points and the NSE Nifty50 touched 18,524.40 points in opening hour.
The two indices had a gap-up opening and held on to the initial gains encouraged by positive global cues. Consequently, the 30-scrip sensitive index traded at 61,772.72 points around 11.25 a.m., up 466.77 points or 0.76 per cent.
The Sensex opened at 61,817.32 points from its previous close of 61,305.95 points. Besides, the NSE Nifty50 traded at 18,496.10 points, up by 157.55 points or 0.86 per cent. It opened at 18,500.10 points from its previous close of 18,338.55 points.
"The Indian benchmark started with a gap up opening amid positive global clues," said Gaurav Garg, Head of Research at CapitalVia Global Research.
"Traders will be taking encouragement as Minister of State for External Affairs said The indian economy is bouncing back strongly, domestic consumption is increasing and industrial production is at pre-Covid level."
Petrol and diesel prices remained unchanged on Monday after increasing for four consecutive days as oil marketing companies (OMC) decided to pause to see developments in the global oil market before taking the next step.
Accordingly, the price of petrol in Delhi remained Rs 105.84 a litre and Rs 111.77 per litre in Mumbai, according to a price notification of state-owned fuel retailers.
In Mumbai, diesel rates also remained static at Rs 102.52 a litre; while in Delhi it costs Rs 94.57, the same as Sunday. The pause has come after it rose for four straight days where prices of both petrol and diesel rose by Rs 1.40 paise per litre.
There was no change in rates also on October 12 and 13. Diesel prices have increased on 19 out of the last 24 days taking up its retail price by Rs 5.95 per litre in Delhi.
With diesel price rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier.