The benchmark BSE Sensex rose over 150 points in the opening trade on Monday, tracking gains in Asian markets. The Nifty 50 traded above 10,550 in the early trading. The Indian rupee strengthened for the eighth straight session on Monday to hit a fresh three-month high against the US dollar after crude oil prices dropped below $60 a barrel. Asian shares edged higher on Monday, though investors were cautious as plunging oil prices fanned worries about a dimming outlook for the global economy. Markets are also bracing for a crucial meeting between U.S. and Chinese leaders at the end of the week as trade tensions between the economic superpowers showed no signs of easing. Oil prices steadied after plunging nearly 8% in the previous session, but remain under pressure with Brent crude below $60 per barrel.

9.48 am IST
HPCL, BPCL, IOC shares rise 4% as oil prices ease
Shares of oil marketing companies Hindustan Petroleum, Bharat Petroleum and Indian Oil rose around 4% as crude oil prices traded below $60 per barrel. BPCL shares rose as much as 3.8% to Rs 332.90 per share, HPCL gained 4.1% to Rs 253 per share and IOCL advanced 3.5% to Rs 143.15 per share. Oil prices won back some ground after hefty losses on Friday, but remained under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets. Front-month Brent crude oil futures were at $59.20 per barrel, up 40 cents, or 0.7%, from their last close.

HPCL, IOC, Bharti Airtel, Indiabulls Housing, Axis Bank, Maruti Suzuki, Zee Entertainment, IndusInd Bank are the major gainers on the indices.

Nov 26, 09:34 AM (IST)
JUST IN | Glenmark Pharmaceuticals Inc., USA has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Clobetasol Propionate Foam, 0.05% (Emulsion Formulation), a generic version of Olux-E Foam, 0.05%, of Mylan Pharmaceuticals, Inc.

Nov 26, 09:31 AM (IST)
Buzzing: Shares of GPT Infra locked at 5 percent upper circuit in the early trade on Monday after company bagged an order worth Rs 159.81 crore.

There were pending buy orders of 340 shares, with no sellers available.

Nov 26, 09:17 AM (IST)
Market Opens: Indian indices started the week on the higher note with Nifty is trading above 10,500 level.

HPCL, IOC, Bharti Airtel, Indiabulls Housing, Axis Bank, Maruti Suzuki, Zee Entertainment, IndusInd Bank are the major gainers on the indices.

Infosys, Tech Mahindra, Kotak Mahindra, Adani Ports are the losers.

Nov 26, 09:06 AM (IST)
Rupee Opens: The Indian rupee gained in the early trade on Monday. It opened higher by 21 paise at 70.46 per dollar versus 70.67 Thursday.

source: livemint.com