On Monday, the BSE Sensex was trading above the psychological 60,000 level, up 470 points in opening deals.
Starting on a positive note, the 30-share benchmark touched an opening high of 60,242 before curtailing some gains. It was last quoted at 60,077.67, which is 333.02 points or 0.56 per cent higher.
Similarly, the NSE Nifty was trading 126.95 points or 0.71 per cent higher at 17,939.65.
Sensex was mainly driven by FMCG, auto, IT and financial stocks. ITC, Maruti, TCS, Kotak Bank and ICICI Bank were the major gainers.
Out of the constituents of the Sensex, 21 stocks were trading in the green.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The record-high inflation of 5 per cent in the eurozone, following the inflationary trend in the US, is emerging as a major challenge for central banks globally in 2022. There is a clear possibility of the Fed moving into a tighter mode with the ECB and other major central banks including emerging markets rising to 1.76 per cent in US 10-year yields and strengthening of the US dollar on equity markets, he said. It is a sign of adversity.
He further said that the third quarter results of IT companies and HDFC Bank starting this week are likely to set the trend for the important IT and banking sectors.
Elsewhere in Asia, stocks were trading mixed ahead of US inflation data.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 496.27 crore on Friday, according to stock exchange data.
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