Sensex Zooms 650 Points, Nifty Tops 14,500; ICICI Bank & Axis Bank Top Gainers

Asian stock markets are trading on a positive note today, rising for the third straight session as risk appetite was aided by recent data showing the world economic recovery from the coronavirus pandemic was well on track.

The Nikkei reversed early losses and is presently trading up by 0.4% while the Hang Seng is up 0.1%. The Shanghai Composite is trading higher by 0.2%.

US stock markets rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.

The Dow Jones Industrial Average gained 228 points, or 0.7% amid a jump in Goldman Sachs and JPMorgan shares. The Nasdaq also climbed 1.4%.

The Dow and the Nasdaq fell 0.5% and 0.3% for the week, respectively.

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

Market participants are tracking shares of Tech Mahindra, SBI Card, and HDFC Life as these companies are scheduled to announce their quarterly numbers today.

The BSE Sensex is trading up by 664 points. Meanwhile, the NSE Nifty is trading higher by 188 points.

ICICI Bank is among the top gainers today. HCL Tech, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.6% and 1.1%, respectively.

Barring healthcare stocks, all sectoral indices are trading in green with stocks in the banking sector and finance sector witnessing most of the buying interest.

The rupee is trading at 74.79 against the US$.

Gold prices are trading up by 0.1% at Rs 47,592 per 10 grams.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia talks about the Nifty and Bitcoin.

Nifty and bitcoin have been very volatile in recent weeks. In the video, Brijesh explains why he is expecting the bearish momentum to end soon.

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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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