The Sensex and Nifty50 opened higher on Monday, as the global mood strengthened. The Nifty50 gained over 100 points to trade over 17,700, while the S&P BSE Sensex gained over 450 points to trade at 60,286.
Broader markets also gained in lockstep, with the Nifty Midcap 100 and Nifty Smallcap 100 indexes rising by up to 0.6%. Meanwhile, the India VIX volatility index fell by much to 2%.
Except for the Nifty Realty index, all other sectors were swimming in a sea of green. The Nifty Metals sector surged the most, by up to 1%.
At home, Bajaj Electricals’ stock rose more than 3% after the business received a Rs 565 crore contract from South Bihar Electricity Distribution Company.
Meanwhile, Kansai Nerolac Paints’ stock rose more than 1% after the business purchased a 40% interest in Nerofix from Polygel.
Rupee opens at 1-month high
INR starts at 81.77/$, down from Friday’s closing of 81.97/$.
Global Cues
Asian stocks moved up on Monday as bond markets waited for the world’s most powerful central banker to provide an update on the United States’ rate outlook as well as jobs data that might determine if the next boost needs to be supersized.
Tokyo markets began higher on Monday, mirroring Wall Street gains and aided in part by a drop in Treasury bond rates.
In early trading, the Nikkei 225 index was up 0.91 percent, or 253.70 points, at 28,181.17, while the wider Topix index was up 0.66 percent, or 13.35 points, at 2,032.87.
Wall Street rose on Friday, capping off a turbulent week as US Treasury rates fell and economic data helped investors look beyond the rising chance that the Federal Reserve would have to maintain its tight policy until late in the year.
