Sensex Opens 350 Points Higher; Dr Reddy's Lab & Tata Steel Top Gainers

Asian stock markets rose today amid speculation that interest rates will remain low due to receding inflationary pressure.

The Nikkei is trading up by 0.6% while the Shanghai Composite is up 0.1%. The Hang Seng gave up early gains and is presently trading down by 0.5%.

In US stock markets, lackluster monthly jobs report sparked a rebound in technology shares and other growth stocks on Friday, helping send the S&P 500 and Dow Jones Industrial Average to fresh record highs. The milestones marked the respective indexes' 26th and 24th record closes of 2021.

The monthly jobs report showed employers added 266,000 jobs in April and the unemployment rose to 6.1%.

The Dow Jones Industrial Average rose 229 points, or 0.7% to 34777.76, while the Nasdaq added 119 points or 0.9%.

For the week, the Dow gained 903 points, or 2.7% while the Nasdaq fell 1.5%.

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

A total of 22 firms, including Chambal Fertilizers, Venky's, JMC Projects, and Zydus Wellness are slated to post their quarterly numbers today.

The BSE Sensex is trading up by 352 points. Meanwhile, the NSE Nifty is trading higher by 120 points.

Dr Reddy's Lab is among the top gainers today. UltraTech Cement, on the other hand, is among the top losers today.

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

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

Shares of Vaibhav Global and Tata Steel hit their 52-week highs today.

The rupee is trading at 73.34 against the US$.

Gold prices are trading up by 0.1% at Rs 47,800 per 10 grams. Meanwhile, silver prices are trading up by 0.9% at Rs 72,037 per kg.

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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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