NIFTY50 trades above 23,700, SENSEX jumps 250 points; ONGC, Tata Consumer and Tata Motors among top gainers

Indian equity benchmarks continued to trade higher mid-market session, driven by buying in blue-chip stocks like Titan Company, Reliance Industries and Asian Paints.

However, gains remain capped, as exchange data showing Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 2,575.06 crore on Monday raised some concern.

On the global front, Asian markets are trading mostly in green, tracking Wall Street's positive lead. As some investors hoped, incoming US President-elect Donald Trump could adopt a less aggressive tariff stance than he promised when he took office.

The SENSEX traded at 78293.12, up by 328.13 points or 0.42% after trading in a range of 77925.09 and 78452.74. The index had 22 stocks advancing and 8 stocks declining.

The broader indices were trading in green; the BSE mid-cap index rose 0.82%, while the small-cap index was up 1.13%.

The NIFTY50 traded at 23740.45, up by 124.40 points or 0.53% after trading in a range of 23637.80 and 23795.20. The index had 40 stocks advancing and 10 stocks declining.

The top gainers on Nifty were ONGC up by 4.33%, Titan Company up by 2.43%, Reliance Industries up by 1.83%, Hindalco up by 1.77% and SBI Life Insurance up by 1.70%. On the flip side, TCS down by 1.27%, Tech Mahindra down by 1.01%, HCL Technologies down by 0.75%, Apollo Hospital down by 0.69% and Wipro down by 0.27% were the top losers.

Stock specific developments

Asian markets are trading mostly in green; Nikkei 225 surged 862.18 points or 2.19% to 40,169.23, Taiwan Weighted added 207.47 points or 0.88% to 23,755.18, KOSPI increased 9.09 points or 0.37% to 2,497.73, Straits Times rose 7.78 points or 0.2% to 3,829.62 and Jakarta Composite gained 0.05 points or 0% to 7,080.52.

On the other hand, Shanghai Composite weakened 10.14 points, or 0.32%, to 3,196.78, and Hang Seng declined 379.24 points, or 1.96%, to 19,309.05.