Key benchmark indices were trading higher in early trade amid positive leads from Asian markets and Friday's surge on the Wall Street. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 302.54 points or 0.85% at 35,997.64. The Nifty 50 index was up 90.65 points or 0.85% at 10,818.
Among secondary barometers,the BSE Mid-Cap index was up 0.62%. The BSE Small-Cap index was up 0.57%.
The market breadth, indicating the overall health of the market, was strong. On BSE, 778 shares rose and 175 shares fell. A total of 31 shares were unchanged.
Overseas, Asian shares advanced on Monday as a dovish turn by the Federal Reserve and startlingly strong US jobs data soothed some of the market's worst fears about the global outlook.
Investor sentiment also picked up slightly ahead of a round of trade negotiations between the United States and China in Beijing. The US and China will hold vice ministerial level trade talks in Beijing on January 7-8, according to the Chinese commerce ministry.
US stocks surged higher on Friday, buoyed by a better-than-expected jobs report for December and dovishly interpreted remarks by the chairman of the Federal Reserve.
The Bureau of Labor Statistics said the US economy added 312,000 jobs in December. The surge in hiring was the largest since February.
Investor optimism was further reinforced by comments by Federal Reserve Chairman Jerome Powell, who said during a Friday morning appearance that the jobs report didn't materially increase concerns over rising inflation, while reiterating that the central bank would continue to keep an open mind about how much it will raise interest rates in 2019 and how aggressively it will shrink its balance sheet, based on incoming data about the US and global economy, including recent weakness in equity markets.
In the global commodities markets, Brent for March 2019 settlement jumped $1.11 a barrel, or 1.98% to settle at $57.06 a barrel during the previous trading session.
Back home, Bharat Heavy Electricals (Bhel) was up 1.33%. The company created a new benchmark of successfully commissioning a 800 MW thermal unit within a record time of 46 months. This is a marked improvement over the time taken in commissioning of 800 MW sets till date in the country by various developers. Following the successful commissioning in record time by Bhel, the power plant has attained commercial operation. The announcement was made on Saturday, 5 January 2019.
Sagar Cements was down 3.24%. The company's consolidated cement sales rose 28.28% to 326,272 MT in December 2018 over December 2017. The announcement was made on Saturday, 5 January 2019.
Kirloskar Electric Company was up 6.71%. The company has entered into an agreement with Brigade Enterprises for sale of non-core asset of the company situated at Subramanyanagar, Industrial Suburb, Rajajinagar, Bangalore admeasuring 1.065 acres (46,391 sq.ft.). The announcement was made on Saturday, 5 January 2019.
Future Lifestyle Fashions was up 1.29%. NSDL, as a designated depository, has noted the request for increase in aggregate foreign investment limit of Foreign Portfolio Investors (FPis) investment in Future Lifestyle Fashions from 24% to 49% of the paid-up capital of the company. The announcement was made after market hours on Friday, 4 January 2019.
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