Sensex Surges Over 500 Points, Nifty Above 15,000

Sensex Surges Over 500 Points, Nifty Above 15,000

The domestic stock markets have opened strong, continuing with the momentum witnessed in the previous session, on the back of positive Asian cues and a decline in Covid cases across the country. At 9:18 am, the BSE Sensex had reclaimed the 50,000 marks and was trading at 50,150.55, higher by 571.35 points or 1.14 percent and the NSE Nifty was back above the 15,000 marks at 15,091.75, up 170.80 points or 1.15 percent.

Asian markets rose as investors reacted to the release of Japan’s first-quarter gross domestic data. The Taiwan index surged 3.28 percent, Nikkei jumped 2.12 percent and the Topix index advanced 1.49 percent.

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Technology stocks pulled Wall Street’s main indexes lower on Monday, as signs of inflationary pressures building up in the economy kept investors worried about monetary policy tightening.

The Dow Jones was dow 0.46 per cent, at 34,223.93, the S&P 500 was down 0.47 per cent and the Nasdaq Composite was down 0.69 per cent.

On the earnings front, Tata Motors, Canara Bank, Aarti Industries, and Abbott India will announce their Q4 numbers during the day. Sensex, Nifty Poised For A Strong Opening

Meanwhile, oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the U.S and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions.

Brent crude oil futures were up 20 cents, or 0.3 per cent, at $69.66 a barrel by 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents, or 0.3 per cent, at $66.46 a barrel.

On Monday, the BSE Sensex jumped 848.18 points to 49,580.73 and Nifty climbed 245.40 points to 14,923.20.

(This story has not been edited by NEWSUP18 and is auto-generated from a syndicated feed.)

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