March 24 (Reuters) – Indian shares opened higher on Monday, led by energy stocks and as foreign capital inflows and bargain-buying opportunities cheered investors.
The NSE Nifty 50 was up 0.65% at 23,498.2, while the BSE Sensex gained 0.67% to 77,420.78, as of 9:21 a.m. IST.
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All the 13 major sectors gained, with the high-weightage financials rising 0.7%.
The energy index jumped 2%, led by GAIL, Gujarat State Petronet, Indraprastha Gas and Mahanagar Gas, on likely gains from the proposed amendments in gas transmission tariff determination regulations.
The broader, more-domestically focussed smallcaps and midcaps rose 1.6% and 1.1%, respectively.
On Friday, foreign portfolio investors (FPI) bought Indian shares worth 74.70 billion rupees ($868.3 million), the biggest single-day inflow in four months.
“The recent reversal in FPI selling has turned the market sentiment for the better, facilitating a rally,” said V.K. Vijayakumar, chief investment strategist at Geojit Investment Services.
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