Markets surge early on strong Asian cues, power & utility stocks shine
Markets surged on Monday as Sensex and Nifty gained momentum, driven by strong Asian cues and buying in power and utility stocks.
Sensex climbed 324.67 points (0.44%) to 74,657.25, while Nifty rose 98.45 points (0.44%) to 22,650.95. Power Grid, Bajaj Finance, NTPC, and Adani Ports led the rally, while IndusInd Bank, Mahindra & Mahindra, and Maruti Suzuki lagged.
Asian markets showed mixed trends. Tokyo and Seoul traded higher, but Shanghai and Hong Kong slipped into the red. US markets ended positively on Friday.
Foreign Institutional Investors (FIIs) sold equities worth ₹2,035.10 crore, but Domestic Institutional Investors (DIIs) countered with purchases worth ₹2,320.36 crore.
Brent crude prices dropped 0.51% to $70 per barrel. Despite last week’s mixed performance, markets rebounded as investors focused on global trends and institutional buying.
