Sensex Up 280 Points In Early Trade; Nifty Climbs Above 10,300


Indian shares opened sharply higher on Monday, tracking firm global markets as geopolitical tensions eased and the latest U.S. jobs report stoked optimism about global growth.

The benchmark BSE Sensex was up 280 points or 0.84 percent at 33,585 after falling over 2 percent last week against the backdrop of the PNB fraud investigation.

The broader Nifty index was up 85 points or 0.84 percent at 10,312, with IOC, Tata Steel, Tech Mahindra, HCL Technologies and ITC rising 1-3 percent.

Reliance Communications dropped 1.5 percent after its proposed deal for the sale of infrastructure assets received green signal from the Competition Commission of India.

ARSS Infrastructure jumped 4 percent and Dolphin Offshore Enterprises rallied 2.6 percent on winning new orders.

ONGC was marginally lower on reports it is selling stake in Gujarat Petrochem project to fund HPCL acquisition.

Bharti Airtel rose over 1 percent on fund raising reports.

Andhra Bank plunged more than 10 percent after the Enforcement Directorate unearthed money trail of an ex-official of the bank.