Sensex Gains 450 Points, Nifty Above 15,750; Bajaj Finance & Tata Steel Top Gainers

Asian share markets are trading higher today tracking the optimism in US stocks. Stock markets in Japan are closed for a holiday.

The Hang Seng is up 1.9% while the Shanghai Composite is trading higher by 0.3%.

In US stock markets, Wall Street indices posted their second straight daily gains on Wednesday, with robust corporate earnings and renewed optimism about the US economic recovery fueling a risk-on rally.

The Dow Jones Industrial Average rose 286 points, or 0.8% while the Nasdaq Composite added 133 points or 0.9%.

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

Market participants will track shares of Hindustan Unilever (HUL), Bajaj Auto, Ultratech Cement, Biocon, Hindustan Zinc, Indiamart Intermesh, and Wockhardt as these companies will release their quarterly earnings today.

The BSE Sensex is trading up by 425 points. Meanwhile, the NSE Nifty is trading higher by 129 points.

Bajaj Finance is among the top gainers today. Asian Paints, 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 power stocks, all sectoral indices are trading in green with stocks in the metal sector and finance sector witnessing most of the buying interest.

Shares of Avenue Supermarts and Mphasis hit their 52-week highs today.

The rupee is trading at 74.41 against the US$.

Gold prices are trading down by 0.6% at Rs 47,579 per 10 grams.

Meanwhile, silver prices are trading up by 0.8% at Rs 67,149 per kg.

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

Despite the index being up more than 1.8 times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2021 and beyond.

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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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