Benchmark indices were trading higher during the afternoon on Monday as easing oil prices lifted investors’ sentiment.

At 1 pm, the BSE Sensex was trading at 53,367.34, up 639.36 points or 1.21 per cent. It recorded an intraday high of 53,509.50 and a low of 53,155.92. The Nifty 50 was trading at 15,893.75, up 194.50 points or 1.24 per cent. It recorded an intraday high of 15,927.45 and a low of 15,831.90.

Hindalco, Tech Mahindra, HCL Tech, UPL and Coal India were the top gainers on the Nifty 50, while only four stocks- Kotak Bank, Eicher Motor, Titan and Tata Consumer were in red.

“The good news is that the markets across the globe are seen shrugging off growth concerns and also have overcome the inflation worries. Also a report from the Indian Meteorological Department (IMD) that predicted an intense spell of rainfall is very likely to continue along the west coast during the next five days is boosting the sentiment,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

The market, however, is likely to remain volatile this week as June month F&O contracts will see settlement on Thursday.

Sectoral indices

On the sectoral front, all indices were in green with IT, metals and auto recording higher gains.

Nifty IT and Nifty Metal were up over 2 per cent each. Nifty Auto was up 1.5 per cent. Nifty PSU Bank and Nifty Private Bank were up over 1 per cent each, while Nifty FMCG was up 1 per cent.

Broader indices

Broader indices outperformed the benchmarks.

Nifty Midcap 50 was up 1.46 per cent, while Nifty Smallcap 50 was up 1.80 per cent. The S&P BSE Midcap was up 1.16 per cent, while the S&P BSE Smallcap was up 1.73 per cent.

The volatility index rose 1.10 per cent to 20.78.

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