Sensex Tweetup Over 300 Points; SBI, IndusInd Bank, ICICI Bank Top Gainers

The domestic stock markets have opened secured in line with the positive cues from the global front. Wall Street had closed higher over the weekend and Asian markets are looking up in early trading. At 9:17 am, the BSE Sensex was trading at 49,026.33, higher by 303 points or 0.59 per cent and the NSE Nifty was at 14,752.30, up 73.05 points or 0.51 per cent, led by gains in financial stocks.

The broader markets are also trading firm, with the BSE Midcap index adding 0.2 per cent and BSE Smallcap index gaining 0.6 per cent.

Asian shares edged very cautiously higher on Monday catching the tailwind from a bounce on Wall Street and ahead of what are expected to be upbeat readings on the Chinese economy, though any disappointment could quickly chill the mood.

MSCI’s broadest index of Asia-Pacific shares outside Japan firmed 0.2 per cent, nudging further away from a four-month trough hit last week. Japan’s Nikkei gained 0.4 per cent, having also touched its lesser since early January last week.

Wall Street closed higher in a broad Tweet up on Friday, an upbeat conclusion to whipsaw week of buying and selling as signs of a rebounding economy squared off against mounting inflation jitters. The Dow Jones rose 1.06 per cent, the S&P 500 gained 1.49 per cent and Nasdaq Composite added 2.32 per cent.