Sensex rises 200 points, Nifty reclaims 10,700

File photo. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Nov 19, 2018, 09.50 AM (IST)

BSE benchmark Sensex rose nearly 200 points in early trade on Monday following gains in auto, metals, consumer durables and banking stocks amid buying by domestic institutional investors. 

However, the oil and gas sector traded lower in early trades.

The 30-share index spurted 176.60 points, or 0.50 per cent, to 34,633.76.

Sectoral indices, led by auto, banking metal and healthcare, rose up to 0.80 per cent.

The NSE Nifty too was up by 42.95 points, or 0.40 per cent, at 10,725.15.

Today, the crucial board meeting of the Reserve Bank of India will be in focus, where contentious issues like relaxing norms for PSU banks under Prompt Corrective Action (PCA) and transfer of RBI’s reserves are likely to be discussed. Dr Reddy’s Lab, Yes Bank, Jet Airways, JSW Steel are among top stocks to track today.

In the global markets, Asian shares crept cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-U.S. trade dispute, while the Federal Reserve’s new-found concern on the global economy undermined the dollar, said a Reuters report.

Oil prices rose by around one per cent as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards year-end.