Sensex opens with 1100 pts up, Nifty above 17,800

The Sensex started off the week on a strong note as it gained more than 1,100 points in early trade on Monday. The jump was driven by substantial gains in index majors HDFC Bank and HDFC amid mixed trends in Asian markets.

The 30-share Sensex jumped 1,143.78 points to 60,420.47 points, while the broader Nifty 50 too saw a jump of 302.20 points to 17,972.65 points.

 HDFC shares climbed 8.37 percent to ₹2,656.10, while the HDFC Bank stock went up nearly 8 percent to ₹1,623.65.

 Another significant development occurred when HDFC Ltd said it will merge with HDFC Bank. With the amalgamation, associates of HDFC Ltd will become subsidiaries/ associates of HDFC Bank, according to a regulatory filing.

 On the other hand, Infosys, M&M, Maruti, ITC, and UltraTech Cement were among the laggards.