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Gail, ONGC and Coal India are the leading BSE gainers, rising 2.6 per cent to 5.9 per cent each
The domestic stock markets have a gap-up opening, post a 2-day decline, due to strong global cues. Wall Street rallied over the weekend and Asian markets are firm in early trading. At 9:18 am, the BSE Sensex was trading at 50,734.75, higher by 337.45 points or 0.67 per cent and the NSE Nifty was at 15,042.65, up 103.75 points or 0.7 per cent. The broader markets are out-performing the benchmark indices, with the BSE Midcap index and BSE Smallcap index gaining 1.1 per cent and 1.2 per cent each.
Asian shares rallied on Monday while the dollar held near three-month peaks after the U.S. Senate’s passage of a $1.9 trillion stimulus bill and a surprisingly strong payrolls report augured well for a global economic rebound.
The prospect of faster growth helped MSCI’s broadest index of Asia-Pacific shares outside Japan firm 0.4 per cent. Japan’s Nikkei gained 1.2 per cent, while S&P 500 futures rose 0.3%, after a sharp turnaround on Friday.
Wall Street, and a gauge of global equity markets, on Friday recovered from earlier losses as investors took stock of a report that showed faster-than-expected U.S. jobs growth but which had previously stoked inflation concerns.
The Dow Jones Industrial Average rose 446.98 points, or 1.45 per cent, to 31,371.12, the S&P 500 gained 59.5 points, or 1.58 per cent, to 3,827.97 and the Nasdaq Composite added 147.19 points, or 1.16 per cent, to 12,870.66.
Among individual stocks, Gail, ONGC and Coal India are the leading gainers among BSE stocks, rising 2.6 per cent to 5.9 per cent each. NTPC, Axis Bank, Tata Steel and Reliance Industries are the other significant gainers on the BSE Sensex.
On the other hand, Bajaj Auto, Ultra Tech Cement and Titan have shed around 1 per cent each on the BSE.
The BSE market breadth is positive. Out of 2,425 stocks traded on the BSE, there are 1,725 advancing stocks as against 562 declines.
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