Sensex above 58,000K, RIL gains 2.8 pc

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New Delhi: Equity benchmark indices extended their bull run during early hours on Monday with auto stocks leading the rally.

At 10:15 am, the BSE S&P Sensex was up by 253 points or 0.44 per cent at 58,383 while the Nifty 50 rose by 67 points or 0.39 per cent to 17,391.
Sectoral indices were mixed with Nifty auto and realty up by 0.6 per cent. But Nifty financial service, metal and pharma were in the negative zone.

Among stocks, Reliance Industries moved up by 2.8 per cent to Rs 2,456.90 per share while Grasim rose by 2.9 per cent.

The other major gainers were Bajaj Auto, Eicher Motors, Hero MotoCorp, Maruti Suzuki, Tata Motors. But Tata Steel, JSW Steel, IndianOil Corporation, Power Grid Corporation and Asian Paints traded with a negative bias.

Meanwhile, Asian shares edged higher as a disappointing US payrolls report promised to keep policy there super-loose for longer, but also clouded the outlook for global growth and inflation.

A holiday in the United States made for thin conditions and kept MSCI’s broadest index of Asia Pacific shares outside Japan to a small gain of 0.2 per cent.

Japan’s Nikkei added 1.7 per cent, extending a rally on hopes a new prime minister there would bring added fiscal stimulus.

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