Sensex Zooms 650 Points, Reclaims 50,000 Mark; Bajaj Finance & IndusInd Bank Top Gainers

Asian share markets rose in early trade today, shrugging off worries about an increase in regional coronavirus infections and a subdued session on Wall Street.

The Hang Seng is trading up by 1.5% while the Shanghai Composite is up 0.1%. The Nikkei zoomed 2.3%.

In US stock markets, technology stocks pulled Wall Street indices lower on Monday, as signs of inflationary pressures building up in the economy kept investors worried about monetary policy tightening.

The Dow Jones Industrial Average ended the day 0.2% lower and the Nasdaq Composite was down 0.4%.

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

A total of 35 companies, including Tata Motors, Canara Bank, Aarti Industries, Abbott India, Torrent Pharma, and Route Mobile are set to release their quarterly earnings today.

The BSE Sensex is trading up by 629 points. Meanwhile, the NSE Nifty is trading higher by 192 points.

Bajaj Finance is among the top gainers today. Bharti Airtel, 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 1.4% and 1%, respectively.

All sectoral indices are trading in green with stocks in the metal sector and power sector witnessing most of the buying interest.

Shares of MRPL and Prism Johnson hit their 52-week highs today.

The rupee is trading at 73.21 against the US$.

In news from the commodities space, gold prices rose to their highest in more than three months as a weaker US dollar and growing inflationary pressure lifted bullion's appeal as an inflation hedge.

In Indian markets, gold prices for the latest contract on MCX are trading down by 0.1% at Rs 48,413 per 10 grams.

Meanwhile, silver prices are trading up by 0.8% at Rs 73,900 per kg.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund (ETF), said its holdings rose 0.7% to 1,035.93 tonnes on Monday from 1,028.36 tonnes in the prior session.

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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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