Equity indices trade higher, IT stocks shine

Equity benchmark indices traded firm during early hours on Monday on the back of positive global cues as hopes of a coronavirus vaccine were rekindled after AstraZeneca resumed its phase three trial.

At 10:15 am, the BSE S&P Sensex was up by 273 points or 0.7 per cent at 39,127 while the Nifty 50 gained by 69 points or 0.6 per cent at 11,534.

Except for Nifty pharma and FMCG. all sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT gaining by 2.2 per cent and realty by 3.1 per cent.

Among stocks, HCL Technologies spurted by 6.3 per cent to Rs 765 per share while Tech Mahindra moved up by 2.7 per cent, Tata Consultancy Services by 1.8 per cent, Infosys by 1.7 per cent and Wipro by 1.6 per cent.

Realty major DLF ticked up by 2.1 per cent to Rs 157.55 per share while Oberoi Realty advanced by 4 per cent to Rs 392. The others which gained were Tata Motors, Ad Ports and HDFC.

However, those which lost were Asian Paints, Bajaj Finance, Hero MotoCorp, Maruti and Bharti Infratel.

Meanwhile, Asian shares firmed on renewed hopes for a coronavirus vaccine after AstraZeneca resumed its phase three trial though sentiment was still cautious.

MSCI's broadest index of Asia Pacific shares outside Japan was up by 0.7 per cent. Japan's Nikkei added 0.7 per cent while Chinese shares started firm with the blue-chip index rising by 0.6 per cent.

( With inputs from ANI )