Sensex and Nifty move up by 300 points

BSE Sensex moving up further on this monday morning and gained more than 300 points. Strong FII flow and better industrial output data were the leading factors for this uptrend.

The industrial output data came in last weekend. At 13.8%, the July IIP was better than the expectation which was about 8.4%.

The Sensex was trading at 19115, up 316 points and the Nifty was at 5733, up 93 points. The BSE Midcap Index was up 1% and Smallcap up 0.7%.

On the global front, Asian markets also trading in green. Hang Seng was up 2% and Taiwan gained 2.5%. Nikkei, Shanghai, Straits Times and Kospi were up 0.9% each.

Top gainers - SBI was trading at Rs 3,115.55, up 4.41%; HDFC was at Rs 654, up 3.82%; ICICI Bank was at Rs 1,089.90, up 3.78%; Axis Bank was at Rs 1,423.90, up 3.23%; PNB was at Rs 1,257.55, up 2.88%; Reliance Infrastructure was at Rs 1,033.25, up 2.31% and Reliance Industries was at Rs 975.75, up 1.86%.

Regards,
Free Indian Stock Tips Team