Sensex Opens 375 Points Higher; Tata Steel And Hindalco Top Nifty Gainers

Asian stock markets are trading on a mixed note today after minutes from the Federal Reserve's latest meeting reiterated its commitment to keep interest rates low until the US economy makes a more secure recovery.

The Nikkei is trading lower by 0.4% while the Hang Seng is trading up by 0.8%.

On Wall Street, the Dow Jones Industrial Average rose 0.1% to 33,446, while the Nasdaq Composite dropped 0.1%.

Back home, Indian share markets have opened on a positive note.

The BSE Sensex is trading up by 375 points. Meanwhile, the NSE Nifty is trading higher by 111 points.

Hindalco and Tata Steel are among the top gainers today. Bajaj Auto, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.5%. The BSE Small Cap index is trading higher by 0.7%.

Sectoral indices are trading in the green with stocks in the metal sector and telecom sector witnessing major buying interest.

Shares of HEG and Persistent Systems hit their 52-week highs today.

The rupee is trading at 74.34 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.2% at Rs 46,280 per 10 grams.

Talking about the stock markets and the ongoing volatility in Indian stocks, have a look at the two charts below, in the order, they have been placed:

Near Term Volatility in Sensex Compensated by Long Term Gains

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

In news from the IPO space...

The initial public offering (IPO) of Macrotech Developers, one of the largest real estate companies in India, was subscribed 26% on April 7 - the first day of bidding.

The portion set aside for qualified institutional buyers was subscribed 58% and non-institutional investors put in bids for 11% of the reserved portion.

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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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