Markets climb in early trade on firm global trends, encouraging domestic macroeconomic data

Equity benchmark indices climbed in early trade on Monday in line with firm trend in global markets and encouraging domestic macroeconomic data.

Fresh foreign fund inflows also added to the optimistic trend in the domestic equity market.

Extending its previous day's rally, the BSE benchmark Sensex climbed 243.69 points to 65,630.85 in early trade. The Nifty went up by 91.5 points to 19,526.80.

From the Sensex pack, Tata Steel, JSW Steel, UltraTech Cement, Larsen & Toubro, Maruti, HCL Technologies, Wipro and Tech Mahindra were the major gainers.

ICICI Bank, Nestle, Asian Paints and Power Grid were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains.

The US markets ended mostly in the positive territory on Friday.

Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday.

GST collections grew by 11 per cent to over Rs 1.59 lakh crore in August on the back of improved compliance and reduced evasion, with experts forecasting higher mop-up to continue in the upcoming festive season.

Domestic passenger vehicle sales hit a record in August led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs.

Global oil benchmark Brent crude climbed 0.05 per cent to USD 88.59 a barrel.

Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth Rs 487.94 crore, according to exchange data.

The BSE barometer had on Friday ended higher by 555.75 points or 0.86 per cent at 65,387.16. The Nifty had spurted by 181.50 points or 0.94 per cent to settle at 19,435.30.