LIVE: Sensex surges over 100 points to trade above 25,000, Nifty50 above 7,620; Page Industries gains


9.16 am: Sensex was trading 104.78 points up at 25057.52. Nifty was up 20.70 points up at 7625.05.

9.15 am: The BSE Sensex opened 54.82 points, 0.22 per cent, up at 7619.20, while Nifty 50 index opened 14.85 points, or 0.20 per cent, up at 7619.20.

8.47 am: The BSE Sensex and NSE Nifty are likely to open lower on Monday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global markets. At 8.29 am (IST), SGX Nifty was trading 19 points, or 0.25 per cent, down at 7,593.50.

However, prospect of a lower interest rate regime has increased significantly with hopes of the Reserve Bank of India (RBI) cutting rates in its monetary policy review on April 5 may support markets during the day.

A brighter outlook for the US economy helped Wall Street, where the S&P 500 Index gained 0.44 per cent to close in the black on Friday.

Shares of Aurobindo Pharma and GMR will remain in in focus on Monday. Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naproxen Sodium Tablets USP, 220 mg (OTC). This product is expected to be launched in Q1 FY16-17. The approved Abbreviated New Drug Application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Aleve Tablets, of Bayer Healthcare LLC (Bayer).

Dabhol, GMR, GVK, Lanco and Gama are among those who have secured around 8 mmscmd of imported gas for running their stranded power projects, which will aid generation of 6.79 billion units electricity.

Some buzz can be seen in the gold and jewellary stocks too, as jewellers called off a 19-day strike late on Saturday after the government assured they will not be harassed by the excise department in collecting a new tax.

Back home, domestic equity benchmark indices staged a blockbuster performance on the last day of the week by vehemently rallying over a percentage points in the session, as overseas investors continued pumping money into the emerging markets following the dovish stance by global central banks. The BSE Sensex surged by 275.37 points or 1.12 per cent to 24,952.74, while the CNX Nifty rose 91.80 points or 1.22% to 7,604.35.

According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net buyers of Rs 806.54 crore in index futures and options segments, as per Friday’s data, March 18, 2016.

FIIs were net buyers of index futures to the tune of 490.91 crore and they bought index options worth Rs 315.63 crore. In the stock segment, FII’s were net sellers of stock futures worth Rs 171.06 crore, while they sold stock options worth Rs 96.37 crore.

The government on Friday slashed interest rates on small-savings schemes, including the Public Provident Fund and Kisan Vikas Patra in order to align these administered interest rates closer to the market rates.