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Sensex jumps over 300 points; Nifty above 11,950 mark

In the broader market, the BSE MidCap was up 103 points to 15,010, while the BSE SmallCap rose 61 points to 14,718.
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Equity benchmark indices open higher tracking positive global cues. The Sensex was quoting at 39,946, up 330 points, while the Nifty was at 11,970, up 100 points.

The market breadth was positive on the NSE with 1,029 shares advancing, 531 shares declining, and 526 remaining unchanged.

In the broader market, the BSE MidCap was up 103 points to 15,010, while the BSE SmallCap rose 61 points to 14,718.

Shares of DHFL jumped 9% after the company paid investors and depositors part of repayments due after missing the deadline earlier this week.

Shares of J&K Bank tanked 17.5% after the Jammu and Kashmir government removed the bank’s chairman Parvez Ahmad, and Anti-Corruption Bureau carried out a raid at the lender's corporate office in connection with alleged fraudulent appointments.

Shares of Reliance Power were trading 10% on Monday after the company reported a net loss of Rs3,558.5cr in the fourth quarter of FY19 compared to PAT of Rs189cr in Q4FY18.

On the currency front, the Indian rupee strengthened marginally against the US dollar tracking gains in local equity markets.

Meanwhile, Asian stock markets climbed on Monday after President Donald Trump suspended his plans for tariffs on Mexico.

The Volatility gauge, India VIX is down 0.48% at 14.78.

The most active stocks on the NSE are ICICI Bank, HDFC Bank and Reliance.

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