E-Paper
Sensex jumps 590 points to open at record high of 51,320; Nifty above 15,000
The 30-share index Sensex jumped 590.40 points or 1.16% to 51,322.03 in the opening session while the border Nifty traded 164.70 points or 1.10% higher at 15,088.95 at 9:26 am.
The Indian equity indices opened at record highs on Monday in line with the continuing upward trajectory in global markets. The 30-share index Sensex jumped 590.40 points or 1.16% to 51,322.03 in the opening session while the border Nifty traded 164.70 points or 1.10% higher at 15,088.95 at 9:26 am.
Banks were among the top gainers while Bajaj Auto and NTPC lagged.
Analysts had previously predicted that stock markets would be driven by quarterly results and global factors this week amid lack of any major economic event, according to news agency PTI.
In the previous session on Friday, the BSE benchmark had briefly crossed the 51,000-level, before ending 117.34 points or 0.23% higher at its fresh closing record of 50,731.63 while the Nifty closed at its all-time high of 14,924.25, up 28.60 points or 0.19%. Markets closed at record high after the Reserve Bank of India (RBI) kept interest rates on hold while assuring to maintain support to revive the economy by ensuring ample liquidity to manage the government's near-record borrowing.
It also sapped some fund from banks by raising the Cash Reserve Ratio (CRR) and use the money for more targeted market operations.
Meanwhile, in global markets, equities reached another record and Treasury yields rose after Janet Yellen pushed for rapid US stimulus and coronavirus infections slowed across the globe. The dollar also steadied after Friday’s slide. S&P 500 and European futures advanced after the US gauge hit a record on Friday. Japan’s Topix index was also on course for its highest close since 1991 amid a report that officials are considering an early end to the state of emergency in 10 Japanese prefectures.
Oil edged closer to $60 a barrel on hopes a $1.9 trillion Covid-19 relief package will be passed by US lawmakers as soon as this month just while jabs against the coronavirus disease are being rolled out globally.
(With agency inputs)
