Indian benchmark indices Sensex and Nifty staged a significant rebound in early trade, buoyed by Sun Pharma's major acquisition of US-based Organon & Co and positive global market trends, ending a three-day period of decline.
Sensex and Nifty50 Rally: Key Highlights from Today’s Market
- Benchmark indices Sensex and Nifty rebounded in early trade, ending a three-day losing streak.
- Sun Pharma shares surged over 4 per cent after announcing the acquisition of US-based Organon & Co for $11.75 billion.
- Major gainers included Adani Ports, Kotak Mahindra Bank, Tata Steel, and Mahindra & Mahindra.
- Asian markets, including South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng, traded higher.
- Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,827.87 crore on Friday.
Benchmark indices Sensex and Nifty rebounded in early trade on Monday after three days of decline, tracking a rally in Sun Pharma and a positive trend in global equity markets.
The 30-share BSE Sensex jumped 546.64 points to 77,210.85 in early trade. The 50-share NSE Nifty climbed 169.55 points to 24,067.50.
Sun Pharma Acquisition Fuels Gains
From the 30-Sensex firms, Sun Pharma climbed over 4 per cent after the company said it will acquire US-based Organon & Co in an all-cash deal at an enterprise valuation of $11.75 billion.
Top Gainers on Dalal Street Today
Adani Ports, Kotak Mahindra Bank, Tata Steel and Mahindra & Mahindra were also among the major gainers.
Axis Bank, Bharat Electronics, Bajaj Finance and Reliance Industries were the laggards from the blue-chip pack.
Global Market Trends and FII Activity
In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading higher.
US markets ended mostly higher on Friday.
Brent crude, the global oil benchmark, traded 1.18 per cent higher at $106.6 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,827.87 crore on Friday, according to exchange data.
