Sensex Opens Marginally Higher; NTPC & JSW Steel Top Gainers

Asian stock markets edged higher today after Wall Street indices set records as a streak of strong US economic data fueled optimism even as a smaller-than-expected climb in 10-year Treasury notes eased inflation concerns.

The Nikkei is trading lower by 1.1% while the Hang Seng is trading up by 2%.

On Wall Street, the Dow Jones Industrial Average rose 1.1% to a record high of 33,527, the S&P 500 gained 1.4% to a record 4,078 and the Nasdaq Composite added 1.7%.

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

India reported 96,557 fresh cases on Monday, according to Worldometer. Prime Minister Narendra Modi will interact with chief ministers later this week on Thursday to discuss the Covid-19 situation and the ongoing vaccination drive.

The BSE Sensex is trading up by 257 points. Meanwhile, the NSE Nifty is trading higher by 84 points.

JSW Steel is among the top gainers today. ONGC, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.7%. The BSE Small Cap index is trading higher by 0.6%.

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

Oil & gas stocks, on the other hand, are trading in the red.

Shares of SAIL and Time Techno hit their 52-week highs today.

The rupee is trading at 73.26 against the US$.

Gold prices are trading up by 0.5% at Rs 44,999 per 10 grams. Meanwhile, silver prices are trading up by 0.7% at Rs 65,024 per kg.

The cryptocurrency market capitalization hit an all-time peak of US$ 2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio. At midday, the market cap was at US$ 2.02 trillion. Bitcoin was last up 1.4% at US$ 59,025 with a market cap of US$ 1.1 trillion.

Speaking of the current stock market scenario, note that the Nifty fell over 200 points yesterday. It was down below 14,500 in the first half of the day.

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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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