Sensex rises by 289 points in early trade

The 30-share index, Sensex, shot up by 289.17 points, or 1.70 per cent, to 15,530.00 with most of the sectoral indices gaining up to 3.12 per cent. The BSE barometer had gained over 430 points in the past two sessions.

The wide-based National Stock Exchange index Nifty climbed 76.85 points, or 1.61 per cent, to 4,606.65.

Brokers said buying activity in the domestic markets picked up largely on the back of a firming trend at other Asian equity markets, which were up by almost three per cent in morning trade.

Major gainers were RIL, which was up by 1.21 per cent to Rs 1,952, Reliance Infra 2.33 per cent at Rs 1,133.50, RCom 1.69 per cent at Rs 252.70, Infosys 1.30 per cent at Rs 2,054.90, TCS 2.96 per cent at Rs 523.75, Wipro 1.38 per cent at Rs 519, Tata Steel 2.32 per cent to Rs 455.20 and Sterlite Industries 3.71 per cent to Rs 652.

ONGC moved up by 1.39 per cent at Rs 1,208 after oil prices rose above USD 74 a barrel in global markets.

The Japan's benchmark Nikkei index surged by nearly three per cent, while Hong Kong's Hang Seng index climbed 1.5 per cent in morning trade on Monday.

The US down Jones Industrial Average ended 1.67 per cent higher on Friday.