E-Paper
Sensex rallies over 300 pts in early trade; Nifty opens above 14,900
Asian shares rose on Monday, cheered by a rally on Wall Street as a grim jobs report signaled to investors that interest rates will likely stay low.
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Domestic equity market benchmarks BSE Sensex and Nifty 50 traded in the green in the early hours on Monday, a positive note after the market benchmarks gained nearly one percentage point in the preceding week. The 30-share BSE Sensex was trading 310 points or 0.61% higher at 49,507 in initial deals. Meanwhile, the broader NSE Nifty surged 103.60 points or 0.70% to 14,925.
Dr Reddy’s was the top gainer in the Sensex pack, rising over 2 per cent, followed by ONGC, HDFC, IndusInd Bank, ICICI Bank, Sun Pharma and Kotak Bank.
On the other hand, UltraTech Cement, Bajaj Finance, Nestle India and Infosys were among the laggards.
In the previous session, Sensex climbed 256.71 points or 0.52 per cent to finish at 49,206.47, and Nifty rose 98.35 points or 0.67 per cent to 14,823.15.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth ₹1,142.75 crore on Friday, according to provisional exchange data.
However, elevated daily caseload, higher positivity rate, and rising Covid-19 cases in hinterlands of the country are expected to weigh on investors' sentiments and will prevent the market from taking any decisive upmove.
Meanwhile, Asian shares rose on Monday, cheered by a rally on Wall Street as a grim jobs report signaled to investors that interest rates will likely stay low.
Japan's Nikkei 225 rose 1.0% in morning trading to 29,644.96. Australia's S&P/ASX 200 jumped 1.2% to 7,166.10. South Korea's Kospi added 1.0% to 3,230.35. Hong Kong's Hang Seng edged up 0.4% to 28,729.22, while the Shanghai Composite was little changed but inched up to 3,418.95.
The regional gains are coming despite a recent surge in coronavirus infections in Asia.
(With inputs from agencies)
