Sensex jumps 311 points in early deals; Nifty gains over 83 points

Mumbai, May 23 (PTI) Equity benchmarks started the trade on a firm note on Monday, with the Sensex jumping nearly 311 points in early deals, amid mixed trends from Asian markets.

The 30-share BSE benchmark Sensex jumped 310.91 points to 54,637.30. The broader NSE Nifty gained 83.35 points to 16,349.50.

From the Sensex firms, Maruti, M&M, Asian Paints, Titan and Kotak Mahindra Bank were the early gainers.

In contrast, Tata Steel, ITC, Power Grid and Reliance Industries were among the laggards.

Meanwhile, Asian markets in Hong Kong, Shanghai and Tokyo were trading on a mixed note.

Stock markets in the US had ended on a mixed note on Friday.

"US stocks closed mixed on Friday. Asian stocks traded mixed on Monday as investors assess the impact of China’s Covid policies on growth...," said Deepak Jasani, Head of Retail Research, HDFC Securities.

The BSE Sensex rallied 1,534.16 points or 2.91 per cent to settle at 54,326.39 on Friday. The NSE Nifty jumped 456.75 points or 2.89 per cent to finish at 16,266.15.

International oil benchmark Brent crude gained 0.60 per cent to USD 113.20 per barrel.

Foreign institutional investors offloaded shares worth Rs 1,265.41 crore on Friday, as per stock exchange data.