Mumbai, India (BBN) – Indian equity indices-Sensex and Nifty-turned positive after opening lower on Monday as heavy-weight Reliance Industries surged over 5 per cent.
The Sensex was down nearly 80 points at the opening while the Nifty fell 19 points to 8,913.65, reports NDTV.
Energy stocks were the prominent gainers in the index led by Reliance Industries.
The energy sub-index of NSE was up over 2 per cent.
Aurobindo Pharma, Gail India, Grasim Industries, Adani Ports were the other prominent gainer in the Nifty rising between 0.85-1.5 per cent.
Axis Bank was the top loser in Nifty, down 1.73 per cent followed by Bharti Airtel, Zee Entertainment and Idea Cellular.
Meanwhile, Asian shares erased early losses but stayed below 19-month highs on Monday as a renewed drop in sovereign bond yields on political concerns prompted some investors to move to the sidelines after a recent rally.
Markets remained in recent broad trading ranges, and interest is focused on US President Donald Trump’s speech to a joint session of Congress on Tuesday night, where he is expected to unveil some elements of his plans to cut taxes.
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat after declining 0.3 per cent in early trades. Japan was down 1.2 per cent, and Australia off 0.2 per cent.
As of 9.35am, Sensex was up 31 points at 28,924 and the Nifty was 4 points higher at 8,943.