The domestic stock markets opened one per cent higher, extending the gains witnessed in the Budget week, on the back of positive global cues. At 9:20 am, the BSE Sensex was at 51,240.75, higher by 530.45 points or 1 per cent and the NSE Nifty had reclaimed the 15,000 mark to trade at 15,076.75, up 153 points or 1 per cent. The broader markets were also going strong, with the BSE Midcap index and BSE Smallcap index adding around a per cent each. All the BSE sectoral indices were trading in the green, with auto and financial stocks leading the way.
Asian shares hovered near record highs on Monday while oil edged closer to $60 a barrel on hopes a $1.9 trillion Covid-19 aid package will be passed by U.S. lawmakers as soon as this month just as coronavirus vaccines are being rolled out globally.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent at 717.2, not far from last week’s record high of 730.6. Japan’s Nikkei climbed 0.3 per cent, while Australian shares advanced 0.5 per cent led by technology and mining shares.
US stocks extended their recent rally on Friday and the S&P 500 and Nasdaq indexes scored their biggest weekly percentage gains since the US elections in early November, boosted by optimism over earnings, stimulus talks and progress on vaccine rollouts.
Auto stocks were trading firm. withe M&M racing ahead by 8.3 per cent to 937 to top the gainers charts on the BSE, and Tata Motors gaining 2.9 per cent to Rs 325. Axis Bank, ICICI Bank, IndusInd Bank and SBI had also gained 2-3 per cent each on the BSE.
On the other hand, Britannia, Bajaj Auto and NTPC shed around a per cent each on the BSE.
The BSE market was strong. Out of 2,130 stocks traded on the BSE, there were 1,452 advancing stocks as against 575 declines,