Sensex Gains 300 Points, Nifty Above 15,750; UltraTech Cement & Maruti Suzuki Top Gainers

Asian share markets are trading in the green as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth.

China stocks rose after the central bank cut the amount of cash most banks must hold in reserve to buttress a slowing economic expansion.

The Hang Seng and the Nikkei are up by 0.7% and 2.3%, respectively. The Shanghai Composite is trading up by 0.9%.

In the US stock markets, Wall Street indices staged a strong rebound on Friday, finishing a topsy-turvy week at fresh records.

The S&P 500 finished last week at all-time highs as investors continued to bet that global growth remains on track despite new COVID-19 variants.

The Dow Jones Industrial Average added 448 points or 1.3%. The Nasdaq Composite gained 142 points.

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

A total of 11 companies including HFCL, Steel Strips Wheels, and Welcure Drugs & Pharma will release their quarterly earnings today.

The BSE Sensex is trading up by 259 points. Meanwhile, the NSE Nifty is trading higher by 81 points.

UltraTech Cement is among the top gainers today. Bajaj Finserv, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index opened higher by 0.6% and 0.9%, respectively.

All sectoral indices are trading in green with stocks in the realty sector and automobile sector witnessing most of the buying interest.

Shares of TVS Srichakra and Tata Consumer hit their 52-week highs today.

The rupee is trading at 74.51 against the US$.

Gold prices are trading down by 0.5% at Rs 47,682 per 10 grams.

Meanwhile, silver prices are trading down by 0.4% at Rs 69,025 per kg.

Speaking of the current stock market scenario, note that the BSE smallcap index has surged 188% since the crash in March 2020.

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

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