Indian equity benchmarks have maintained their early trade gains led by broadbased buying and positive global cues. Global markets are rallying on hopes that the forthcoming European Union Summit on Wednesday will find a solution to the debt crisis. Among Asian markets, Hang Seng surged 4%. Straits Times, Kospi and Taiwan rallied 2-3%; Nikkei was up 1.6% and Shanghai rose just 0.35%. The 30-share BSE Sensex jumped 268 points to 17,053.48 and the 50-share NSE Nifty moved upi 81 points to 5,130.65.
Francesco Garzarelli of Goldman Sachs said, "Intense negotiations among European politicians over the weekend resulted in little incremental material news. Global markets may be disappointed by the lack of solution at the EU Summit. All eyes are now on Wednesday's Summit."
Trader Atul Suri says India will soon break out of the trading range that it is in and that too on the upside!
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