Sensex Zooms 450 Points In Opening Trade; Mindtree Up 5% Post Q3 Results

Asian share markets and US stock futures are trading higher today as investors awaited comments from Joe Biden's Treasury Secretary nominee Janet Yellen on US stimulus and the dollar.

The Hang Seng is trading up by 2.8% while the Nikkei is trading higher by 1.6%.

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

Market participants are tracking Tata Communications' share price and Ceat share price as these companies are scheduled to announce their December quarter earnings today.

The BSE Sensex is trading up by 432 points. Meanwhile, the NSE Nifty is trading higher by 121 points.

ONGC is among the top gainers today. HDFC Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 1.1%. The BSE Small Cap index is trading higher by 1.3%.

All sectoral indices are trading on a positive note with stocks in the realty sector and energy sector witnessing most of the buying interest.

The rupee is trading at 73.16 against the US$.

Gold prices are trading down by 0.1% at Rs 48,858 per 10 grams.

Meanwhile, silver prices are trading up by 0.4% at Rs 65,720 per kg.

Domestic gold and silver prices are mixed today, tracking flat global rates. In the previous session, gold had finished 0.4% higher, after hitting the lowest level in over a month, while silver had advanced 1%.

In global markets, gold rates today inched higher as traders awaited comments from Treasury Secretary nominee Janet Yellen on the dollar and stimulus.

Speaking of the current stock market scenario, note that since the lows in March 2020, the smallcap index has gained more than 100%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rebound rally.

Have a look at the history of previous smallcap crashes and rebounds over the last two decades...

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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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