Markets extend rally for the sixth consecutive day

Mumbai: Equity benchmark indices continued to gain for the sixth consecutive session on Monday with the Nifty opening above 11,500 level.

A sectoral analysis showed banking stocks rallying followed by energy, FMCG and infrastructure but auto, metal and pharma were under pressure.

At 11:15 am, the BSE S&P Sensex was up 75 points to 38,096 while the NSE Nifty 50 was up 28 points at 11,455.
Among the gainers were Axis Bank, Kotak Mahindra, Mindtree, Indian Oil, Bharti Infratel, Asian Paints, Power Grid, Tata Consultancy Services, and Mahindra & Mahindra. However, Maruti Suzuki, Grasim, Vedanta, NTPC and Wipro lost ground.

The most active stocks on National Stock Exchange were Reliance Industries, Maruti, Kotak Mahindra and Indian Oil.

Meanwhile, Asian stock markets also traded higher as investors awaited developments on the US-China trade talks and US Federal Reserve policy meeting in focus.

Market experts said Fed policymakers could lower their interest rate forecasts.