Sensex up 81 pts on overseas cues

The Sensex has so far touched a high of 31,392.53 points and a low of 31,318.87 points.

The top market gainers were Bajaj Auto and L&T.

Risk-on improved after GST Council yesterday relaxed return filing rules for businesses for first two months.

The Council also made a decision to tax state-run lotteries and state authorised lotteries at 12 and 18 percent respectively, and to tax 28 percent in hotels starting from Rs. 7,500 and 18 percent below Rs. 7,500. Meanwhile, the broad based NSE Nifty climbed by 69.50 or 0.72% at 9,657.55 with 31 components registering rise.

Investors tracked higher Asian markets, which took comfort from the overnight record close in U.S. stocks driven by rebound in technology shares. "European market was in positive mood after French President Emmanuel Macron's party won a parliamentary majority at the weekend", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Closer home, the benchmark BSE Sensex was up 40 points or 0.13 percent at 31,350 in early trade after climbing 0.8 percent the previous day to close at a fresh record high.

The farm loan waivers for small-and-marginal farmers announced by the Punjab government on Monday are impacting the PSU sector particularly, said Sunil Sharma, chief investment officer, Sanctum Wealth Management. But the gains were capped on continued FII selling. Japan's Nikkei 225 has surged 225 points; Hong Kong's Hang Seng has shed 13 points, while China's Shanghai Composite has slipped 4 points.

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