Sensex Opens In Green; Reliance Industries & Power Grid Top Gainers

Asian share markets slipped in early trade today and US stock futures edged higher as traders awaited a Federal Reserve meeting that is expected to leave policy exceptionally loose despite robust growth.

The Nikkei is trading lower by 0.2% while the Hang Seng is trading down by 0.3%. The Shanghai Composite is down 0.5%.

In US stock markets, fueled by a rally in Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week, the Nasdaq clinched record closing highs in the overnight session, gaining 0.9%. The Dow Jones Industrial Average, however, slipped 0.2%.

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

A total of 28 companies are set to report their March quarter results today including large cap names such as Axis Bank, Maruti Suzuki, Bajaj Finance, Britannia, and HDFC AMC.

The BSE Sensex is trading up by 141 points. Meanwhile, the NSE Nifty is trading higher by 35 points.

Reliance Industries is among the top gainers today. Axis Bank, 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 0.3% and 0.6%, respectively.

Sectoral indices are trading on a mixed note with stocks in the metal sector and energy sector witnessing buying interest.

Banking stocks, on the other hand, are trading in the red.

Shares of Rain Industries and JSW Steel hit their 52-week highs today.

The rupee is trading at 74.70 against the US$.

Gold prices are trading down by 0.1% at Rs 47,468 per 10 grams. Meanwhile, silver prices are trading up by 0.1% at Rs 68,695 per kg.

In news from the cement sector, Shree Cement, one of India's top cement manufacturers, is running its oxygen plants at 100% capacity to cater to the shortage of oxygen in the country.

The company has already supplied over 12,500 oxygen cylinders and is continuing to supply to the hospitals across India from its production units in Rajasthan, Karnataka, Bihar, Odisha, and Chhattisgarh. The plants are also providing free oxygen refills at all its units.

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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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