The Indian equities surged in opening trade tracking positive cues from higher Asian markets. At 9.30 am, the Sensex surged 402.77 points or 1.48 percent to 27,529.67. This is the highest level of Sensex since October 2015. While the NSE Nifty was trading at 11-month, jumped 114.40 points or 1.37 percent to 8,437.60.
Banking operations could be hit for two days this week as a section of public sector bank employees have threatened to go on a nationwide strike beginning July 12 to protest against the proposed merger of SBI associates and privatisation of IDBI Bank.
Income Tax Department has asked its top officers to closely scrutinise high-value transactions and investments in penny stocks to identify potential black money holders who can avail the four-month compliance window ending September 30 to come clean.