Opening Bell: Equity indices upbeat on positive global cues, MandM up 7.6%

Key equity indices traded over one per cent higher during early hours on February 08 tracking strong global cues amid upbeat news on corporate earnings, economic data and updates on vaccination drive.

Market experts said foreign portfolio investors have continued to buy Indian securities as the Union Budget 2021 sparked a strong rally, and there seems to be no reason for them to slow down.

At 10:15 am, the BSE SandP Sensex was up by 649 points or 1.28 per cent at 51,381 while the Nifty 50 edged higher by 179 points or 1.2 per cent to 15,103.

Most sectoral indices at the National Stock Exchange were in the positive terrain with Nifty auto up by 2.6 per cent private bank by 1.8 per cent and realty by 1.6 per cent.

Among stocks, Mahindra and Mahindra moved up by 7.6 per cent to Rs 931.65 per share while Tata Motors accelerated by 2.4 per cent to Rs 323.55.