The domestic stock markets have opened in the green, in line with positive global cues. Asian stocks were firm in early trading, US shares had climbed higher over the weekend and trends on SGX Nifty futures indicated a positive opening for the index in India, with a 27-point gain. As of 9:20 am, the BSE Sensex is trading at 52,176.25, higher by 76.35 points or 0.12 per cent and the NSE Nifty is at 15,699.10, up 30.55 points or 0.12 per cent. The broader markets are outperforming the benchmark indices, with the BSE Midcap index and BSE Smallcap indices jumping 0.7 per cent and 0.6 per cent respectively.
Asian shares firmed up on Monday while the dollar wavered after the anxiously awaited May U.S. payrolls report showed the recovery on track but not so hot that it might bring forward a policy tapering from the Federal Reserve.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 per cent and looked to break three sessions of losses. Japan’s Nikkei rose 1.0 per cent to touch its highest in almost a month, and South Korea gained 0.7 per cent.
US stocks climbed on Friday, lifted by technology stocks, after a tepid US monthly jobs report relieved investor concerns the Federal Reserve might rein in monetary stimulus soon. The Dow Jones rose 0.43 per cent, S&P 500 gained 0.83 per cent and Nasdaq Composite added 1.5 per cent.
On the earnings front, Union Bank of India, Central Bank of India and Mrs Bectors Food Specialities will declare their Q3 numbers during the day.
On the stock-specific front, Powergrid has jumped more than 1 per cent to top the gainers list on the BSE. ITC, L&T, NTPC and ONGC have also gained around a per cent each on the BSE.
On the other hand, Bajaj Finance, Bajaj Finserv and HDFC have shed between 1 per cvent and 4 per cent each on the BSE.
The BSE market breadth is strong. Out of 2,626 stocks traded on the BSE, there are 1,972 advancing stocks as against 560 declines.