Research Icon - Markets trade volatile; IT stocks lead

Indian benchmark indices on Monday opened in the positive with Sensex and Bank Nifty opening at record highs.

The Sensex is up 96 points at 41,106, and the Nifty is up 23 points at 12,110. (9.23 AM)

Sectorally, all indices traded higher except Nifty Pharma, FMCG, and PSU Bank.

Nifty IT led gains with Tech Mahindra and HCL Tech being the top outperformers.

Nifty Bank hit a record high in early trade and is trading above 32,000.

Top gainers on the indices include Kotak Mahindra Bank, TechM and HCL Tech, while top losers include Sun Pharma, Adani Ports, and IOC.

The Indian rupee opened higher at 70.75/$ on Monday against Friday's close of 70.81/$.

Gold prices edged lower on Monday after fading demand for the safe haven following a phase one deal between the US and China.

Oil prices declined but remained near a three-month high after the trade deal development, which could enhance oil demand and boost trade flows.

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