Sensex Jumps 600 Points, Asian Markets Strong

Benchmark indices continued their strong upward momentum, led by global cues. The US markets had rallied more than 3 per cent on Friday, on the back of a strong positive bounce in the US Jobs data. Crude oil prices too gained ground on the hopes of a strong revival in the global economy.

The Sensex was trading with gains of 591 points, while the Nifty jumped 178 points in trade.

Reliance Industries gained ground after the company along with Jio Platforms announced an investment of Rs 5,683.50 crore by a wholly owned subsidiary of the Abu Dhabi Investment Authority. The stock was last up 2 per cent and was trading at Rs 1,608.

Shares in Larsen and Toubro gained 3 per cent, after the company reported a fall in the net profit by 6.5 per cent while revenue rose 2.2 per cent. The stock was last seen trading at Rs 991 on the NSE.

Shares in Karnataka Bank fell after reporting of various frauds to the Reserve Bank of India. The stock was down a huge 4 per cent in trade.

Inox and PVR both were trading nearly 4 per cent higher, ahead of quarterly numbers to be declared later today. Shares in oil marketing companies were strong with Indian Oil surging nearly 4 per cent, while BPCL was up 1.5 per cent.