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Nifty above 11,100 mark; Sun Pharma, Indiabulls Housing stocks surge

Equity benchmark indices extended morning gains tracking global cues on Monday, with the Sensex up over 236 points at 37,5486. The Nifty is trading above the 11,100-mark, up 64 points.

Sun Pharma, Vedanta, Indiabulls Housing, NTPC, and L&T shares were among top gainers, while Powergrid, Maruti, Tata Motors and ONGC shares were among losers.

India VIX is down over 3% at 16.13 levels.

The Nifty Pharma index soared 1.7% led by Sun Pharma, Dr. Reddy’s, Cipla and Lupin.

On the international front, oil prices gain following a weekend attack on a Saudi oil facility by Yemeni separatists, although price gains were capped by an unusually downbeat OPEC report that stoked concerns about demand growth.

Asian stock markets rose on Monday on the back of positive leads from Wall Street on Friday on hopes of more stimulus from central banks around the world to prevent a global recession.

The Indian rupee opened higher at 71.17 per dollar on Monday. The 10-year government bond yield was at 6.553% compared with its previous close of 6.54%.

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