Mumbai: The markets seem to be still gripped by the festival spirit. The Sensex has gained more than 125 points in the afternoon trade on Monday.
The Sensex is trading at 8201 up by over 128 points. The Nifty is at 2454 up 34 points since yesterday's close.
The CNX midcap index is up 50 points at 3588.
The Bombay Stock Exchange Benchmark sensex on morning trade surged past 8100 level after a promising start and was up 80 points at early trade on sustained buying support from investors.
Foreign Institutional Investors (FIIs) reportedly were engaged in short covering in derivatives.
The sensex opened at 8083.59 point against Wednesday's close of 8072.75 and later rallied past 8100-mark to a high of 8155.83 before being quoted at 8153.03 at early trade, up by 80.28 points over previous close.
The sensex has gained over 387 points during last week, which was confined to three trading days due to holidays on Thursday and Friday.
Operators and domestic funds too were seen making fresh commitments on the back of FIIs positive activity in November.
FIIs, which had pull out sizeable funds during October, are covering their short positions in the Futures in the past couple of trading sessions, brokers said.
Meanwhile, major south East Asian markets witnessed weak trend during early trade. The Hang Seng, Kospi and Taiwan were quoted substantially lower at 1015 hrs IST.
FIIs once again, have turned positive following strong prospects of a seven per cent robust growth in the economy for the current fiscal, brokers added.
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