Lupin was the top gainer after the USFDA cleared its Goa facility
Benchmark share indices edged higher in early trades on Monday, amid firm global cues, after reports suggest that the FBI cleared democratic presidential candidate Hillary Clinton post its investigation over the new emails.
At 9:20am, the S&P BSE Sensex was up 221 points at 27,495 and the Nifty50 was up 72 points at 8,506.
Foreign institutional investors were net sellers in equities worth Rs 343 crore on Friday, as per provisional stock exchange data.
Stocks
Lupin was the top gainer up over 7% after the pharma major announced that it has received notification that the inspection carried out by the US FDA in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR).
Punjab National Bank was up over 4% ahead of the listing its housing finance arm, PNB Housing Finance.
ICICI Bank was up 1.7% ahead of its second quarter earnings due for release today.
Among other index heavyweights, Infosys and Reliance Industries were up 0.9%-1.1% each.
ITC extended gains and was up over 0.5% after the Goods and Services Tax (GST) Council's propose to place tobacco products in the 28% tax slab and an additional cess.
The current rate of taxation on cigarettes is around 64% and 81% on chewing tobacco. Global Markets Asian shares edged higher on Monday after reports suggest that the FBI that it has not changed its view on the closure of the investigation into the alleged email scandal of Democratic presidential candidate Hillary Clinton after its review of new emails.
Stocks in Japan were the top gainers in the region with the benchmark Nikkei up 1.3% followed by Straits Times and Hang Seng which gained over 0.5% each while China's Shanghai Composite was trading flat with positive bias.
US stocks ended marginally lower on Friday, amid a volatile trading session, as investors turned cautious ahead of the Presidential elections. The S&P 500 lost for the ninth straight session, the longest losing streak since 1980.
The benchmark index ended down 0.2% at 5,046, the Dow Jones industrial average ended down 0.2% at 17,888 and the Nasdaq settled 0.2% lower at 2,085. However, the US stock futures were trading around 1% higher today.
Photograph: Danish Siddiqui/Reuters