Indian Share Markets Open Higher; HCL Tech & IndusInd Bank Top Gainers

Asian stock markets are trading on a positive note today as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.

The Nikkei is trading up by 0.5% while the Hang Seng is up 1.1%. The Shanghai Composite is trading higher by 0.3%.

In US stock markets, Wall Street indices rose overnight, closing out March and the first quarter on a high note as investors rotated back into high-growth tech while weighing President Joe Biden's big infrastructure spending plan.

The tech-heavy Nasdaq Composite surged 1.5% as Apple, Microsoft, and Facebook all gained at least 1.6%. Shares of Tesla jumped more than 5%. Meanwhile, the Dow Jones Industrial Average slipped 0.3%.

The Dow climbed 6.6% in March, posting its best month since November and the fourth positive month in five. For the quarter, it gained 7.8%, its fourth positive quarter in a row.

The Nasdaq was the relative underperformer as technology stocks are especially sensitive to rising rates. For March, the Nasdaq gained 0.4%. For the quarter, it gained 2.8%.

Back home, Indian share markets have opened on a strong note, following the trend on SGX Nifty.

The BSE Sensex is trading up by 315 points. Meanwhile, the NSE Nifty is trading higher by 90 points.

HCL Tech is among the top gainers today. HDFC Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.8% and 1.2% respectively.

Barring realty stocks, all sectoral indices are trading in green with stocks in the IT sector and automobile sector witnessing most of the buying interest.

The rupee is trading at 73.19 against the US$.

Gold prices are trading down by 0.3% at Rs 44,510 per 10 grams.

Also, speaking of the ongoing volatility in Indian stock markets, have a look at the two charts below, in the order, they have been placed:

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.