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Indian shares elevate on positive global cues, Nifty bounces back over 15,000

The BSE Sensex opened higher by 282 points at 50,687.86, and Nifty-50 opened at 15,016.00, up 77 points

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Dalal-Street on Monday, March 8 bounced back on strong support led by Banks and IT stocks. The foreign markets backed the sentiment too as the US markets ended higher on Friday and trends on SGX Nifty indicated a gap-up opening for the Indian markets. The BSE Sensex opened higher by 282 points or 0.54 per cent at 50,687.86, and Nifty-50 opened at 15,016.00, up 77 points or 0.52 per cent. Overall, around 1201 shares added gains, 251 declined and 99 were unchanged.

Shares of GAIL, ONGC and UPL were the top gainers of index at market opening. GAIL added over six per cent in the early trade and marked a fresh record high at Rs 157.95. Reliance, Adani Ports and Tata Steel were the top index contributors. Shares of Reliance zoomed over two per cent in the early trading session.

All sectors were trading positive post-opening and the PSU Banks gained the most among all other sectors. Bank of India surged the most among its peers PSU Bank index and added nearly 10 per cent in the morning trade.

The BSE Midcap and Smallcap indices continued their growth momentum on Monday as both indices gained over a per cent each. BEML, Chennai Petro and Prince Pipes were among the top contributors of BSE Smallcap as they surged over 10 per cent each.

Selling was witnessed in shares of UltraTech Cement, Bajaj Finance and Asian Paints and led them to the top losers of Nifty at market opening.

Easy Trip Planners IPO: The travel firm opened their share issue on Monday and will close the subscription on Wednesday, March 10. The firm aims to raise Rs 510 crore from Initial Public Offering (IPO) with the IPO price of Rs 187/share. The minimum share quantity is 80 shares which accounts to a sum of Rs 14,960.

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