Sensex jumps 240 points, Nifty near 11,700

The BSE Sensex jumped 240.74 points or 0.62 percent to 38,913.65.

New Delhi: Markets posted strong rally on Monday amidst positive Asian cues.

Minutes into trading, the BSE Sensex by crossing 39,000. So far the 30-stock index has touched 39,000.13 while the Nifty also topped 11,700 after six months.

The rally was led by strong buying in  metal, auto and financial stocks stocks. The BSE Sensex jumped 337.71 points or 0.87 percent to 39,010.62 in early trade while the NSE Nifty edged higher  by 85.90 points or 0.87 percent to 11,709.80.

Tata Motors, Vedanta, Tata Steel, L&T, ICICI bank, M&M, Bharti Airtel, HCL, Infosys, Heromoto Corp, SBI and TCS, rising upto 5.79 percent. While stocks of powergrid, Kotak Bank, HDFC, IndusInd Bank, Coal India and ONGC, fell upto 1.25 percent.

The domestic currency derivatives markets are closed today.

MSCI`s broadest index of Asia-Pacific shares outside Japan added 1 percent and the Shanghai Composite Index rallied 1.7 percent, a Reuters report said. Australian stocks climbed 0.8 percent, South Korea`s KOSPI gained 1 percent and Japan`s Nikkei advanced more than 2 percent.

With Agency Inputs