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The benchmark indices have opened strong after the extended weekend due to positive cues from the global market front. Asian markets are trading largely in the green this morning. At 9:230 am, the BSE Sensex was trading at 49,509.50, higher by 505 points or 1 per cent and the NSE Nifty was at 14,664.55, up 159 points or 1 per cent. The broader markets were also going strong, with the BSE Midcap index and BSE Midcap index gaining 0.8 per cent each.
All the BSE sectoral indices and BSE stocks were trading in the green, with the exception of M&M.
Asian shares opened higher on Tuesday as investors shook off earlier worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.
In the United States, the S&P 500 ended just slightly in the red on Monday, with bank shares falling amid warnings of potential losses from a hedge fund’s default on margin calls, while optimism over the economy limited the day’s declines.
The Dow Jones rose 0.3 per cent, while the S&P 500 lost 0.09 per cent and Nasdaq Composite dropped 0.6 per cent.
On the IPO front, mobile gaming company Nazara Technologies will list on the bourses today.
On Friday, the BSE Sensex had climbed 568.38 points or 1.17 per cent to close at 49,008.50 and the Nifty had risen 182.40 points or 1.27 per cent to 14,507.30. The markets were shut on Monday on account of Holi and will remain closed on Friday due to Good Friday, in what will be a truncated week of trading.
The early-morning gains were led by index heavyweights Tata Steel, JSW Steel, Hindustan Unilever and NTPC, each of which jumped between 2.3 per cent and 3.4 per cent on the BSE. GAIL, Britannia and Grasim were the other significant gainers among the BSE stocks.
On the other hand, M&M was the sole loser among the BSE stocks; the auto major lost 1 per cent on the BSE.
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