Domestic stock markets opened the week strongly in line with global markets, thanks to the purchase of interest in metals and financial stocks. At 9:20 a.m., the BSE Sensex was at 55,719.50, up 392 points, or 0.72 percent, and the Nifty stood at 15,563.50, up 109.70 points, or 0.66 percent. The broader markets are also strong, with the BSE Midcap Index and the BSE Smallcap Index in early trading gaining 0.7 percent and 0.9 percent each.
Asian markets tried to pick up pieces on Monday after last week’s thrashing as coronavirus concerns showed little sign of abating as safe-haven flows supported the dollar ahead of a major update to monetary policy from the United States. The United States.
Wall Street closed sharply higher at the end of a tumultuous week on easing concerns about whether the US Federal Reserve could start tightening its loose monetary policy earlier than expected. The Dow Jones rose 0.64 percent, the S&P 500 gained 0.81 percent and Nasdaq Composite gained 1.17 percent.
On a stock-specific front, information technology stocks are trading firm this morning. HCL Tech, Tech Mahindra, TCS and Infosys each gained 1-3 percent on the BSE. The financial space is also doing well, with Bajaj Finserv, Bajaj Finance and SBI each gaining about one percent on the BSE.
On the other hand, Powergrid, Bajaj Finance, Hindustan Unilever and M&M have each written off up to one percent on the GSE.
The breadth of the BSE market is the same. Of the 2,791 stocks traded on the BSE, 1,366 are advancing stocks against 1,309 declines.