Sensex jumps 250 points, IT up 1%
Mumbai: Broadly positive global markets and a strong third quarter earnings reported last week aided the Sensex and Nifty to advanced over 0.50 per cent during Monday's afternoon trade session.
Most Asian stocks traded comfortably in the green despite China reporting a slowdown in the GDP growth rate.
China's economy grew 6.6 per cent in 2018, the weakest annual performance since 1990, confirming a slowdown in the world's second largest economy that could threaten global growth, according to official data on Monday. China's growth was 6.8 per cent in 2017.
Finance, banking and IT stocks led the gains on the Sensex. IT stocks gained 1 per cent.
At 1.14 p.m., BSE Sensex gained 248.68 points or 0.68 per cent at 36,635.29 after touching an intra-day high of 36,701.03 and a low of 36,351.77.
The broader Nifty traded 62.95 points and 0.58 per cent up at 10,969.90.
Top gainers on the Sensex were index heavy weights: Reliance Industries, Sun Pharma, Infosys, Tata Consultancy Services and HDFC Bank.
In contrast, Hero MotoCorps, Bajaj Auto, Yes Bank, Tata Motors and Tata Motors(DVR) were the leading losers.