Sensex up 250 points, oil, gas stocks surge

Mumbai: Amid mixed global cues Sensex surged close to 250 points as key equity indices opened in green on Monday, owing to gains in the banking and finance stocks.

Healthy buying was seen in all the sectors with BSE Oil and Gas index leading the pack, closely followed by banking and finance scrips.

Oil prices rose on Monday, said Anuj Gupta of Angel Broking, owing to comments from Saudi Oil Minister, indicating that the supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) would continue till June.

The Sensex of the BSE opened at 36,741.57 from its previous close at 36,671.43 on Friday.

At 9.31 a.m., the Sensex traded at 36,919.78 higher by 248.35 points or 0.68 percent.

The Nifty of the National Stock Exchange (NSE) opened at 11,068.75 from it’s the previous close of 11,035.40. It traded at 11,035.40 during the morning trade session, up 22.80 points and 0.21 percent.

On Friday, foreign institutional investors (FIIs) bought stocks worth Rs 1,095.06 crore while domestic institutional investors (DIIs) sold stocks to the tune of Rs 470.70 crore.