The domestic stock markets have opened firm, after correcting for two straight sessions, on the back of conducive global cues. As of 9:17 am, the Sensex is at 50,653.15, higher by 229.55 points or 0.45 per cent and the Nifty is at 15,000.15, up 59.85 points or 0.45 per cent. The BSE Midcap and BSE Smallcap indices are trading higher by 0.6 per cent each at 20,553.50 and 21,221.95 respectively. All the BSE sectoral indices are trading in the green, with the exception of the metal space.
The S&P 500 and Dow Jones Industrial Average closed at a record high on Monday as investors eyed an economic recovery from the coronavirus impact and awaited cues from the Federal Reserve this week amid caution over rising borrowing costs.
The Dow Jones Industrial Average rose 0.53 per cent to end at 32,953.46 points, while the S&P 500 gained 0.65 per cent to 3,968.94 and Nasdaq Composite climbed 1.05 per cent to 13,459.71.
Meanwhile, oil prices edged lower on Monday, pulling back from early gains fostered on strong Chinese economic news and ongoing supply restraint from major oil producers.
Brent crude futures for May settled at $68.88 a barrel, losing 34 cents. U.S. West Texas Intermediate crude for April settled at $65.39 a barrel, shedding 22 cents.
On the stock-specific front, UPL, Titan, Asian Paints and Ultratech Cements have gained around 2 per cent to top the gainer’s list on the BSE. Adani Ports, Britannia and Bharti Airtel are the other significant gainers amonmg BSE stocks. On the other hand, metal stocks are trading weak, with Hindalco, Tata Steel and JSW Steel shedding around a per cent each on the BSE.
The BSE market breadth is strong. Out of 2,135 stocks traded on the BSE, there are 1,393 advancing stocks as against 646 declines.