Sensex up 239 points, Nifty above 10,500-level in late morning trade

Mumbai: Market benchmark BSE Sensex climbed 239.03 points in late morning deals on buying in realty, auto, industrials, capital goods, oil&gas, basic materials, banks, financials, energy and metal counters amid higher Asian cues.

Buying by domestic institutional investors (DIIs) and a strengthening rupee supported the market sentiment.

The 30-share index was trading higher by 239.03 points, or 0.70 percent at 34,381.18 at 1050 hrs.

Broader Nifty-50 index was also trading above the key 10,500-level at 10,560.10, a gain of 69.05 points, or 0.66 percent.

Major gainers were Indusind Bank , up 2.98 percent, Tata Motors 2.90 percent, L&T 2.50 percent, Tata Motors DVR 2.40 percent and Adani Ports 2.34 percent.

Foreign portfolio investors (FPIs) sold shares worth Rs 486.32 crore on net basis, while DIIs bought equities to the tune of Rs 1,514.03 crore last Friday, provisional data showed.

Asian shares were trading higher. US stocks rallied last Friday to end a bumpy week with slight gains, as falling bond yields provided a reprieve for investors concerned about rising inflation.