Picking up from last week’s gains, stock markets on Monday opened in the green. While the BSE Sensex was trading at 36319.57, up by over 298 points or 0.8 per cent, the broader market NSE Nifty 50 was trading 10711.25, up by over 103 points or almost 1 per cent, within minutes of its opening.
Barring two stocks in the 30 share BSE Sensex, all were trading in the green at the time of opening of the market. The top gainers on Monday at the time of opening were HDFC Bank, Indusind Bank, Bajaj Finance, Tech Mahindra and ITC. The top losers were Hindustan Unilever and Bajaj Auto.
Meanwhile, HDFC Bank, Indusind Bank, Tata Motors, Eicher Motors and JSW Steel were the top gainers on Nifty Fifty on Monday in the opening trade. The top losers were GAIL and Hindustan Unilever.
On Friday, the Sensex ended at 36,021.42, up by over 0.5 per cent while the Nifty 50 closed at 10,607.35, also up by 0.5 per cent. The Indian stock markets traded with a positive sentiment last week.
Today, the rupee was trading at around 74.7100 against the USD at 9:30 pm.
Asian shares scaled four-month peaks on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-openings across the United States. MSCI`s broadest index of Asia-Pacific shares outside Japan climbed 1 per cent to its highest since February.
Eyes were on Chinese blue chips, which jumped 3 per cent, on top of a 7 per cent gain last week, to their loftiest level in five years. Even Japan`s Nikkei, which has lagged with a soft domestic economy, managed a rise of 1.3 per cent.
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“We think there is a case for raising tactical allocation on Asian equities in the context of global equity portfolios,” wrote analysts at Nomura in a note.
Inputs from Reuters