Sensex Surges Over 500 Points To Reclaim 50,000, Nifty Back Above 15,000May 18, 2021
By Administrator_ India
The domestic stock markets have opened strong, continuing with the momentum witnessed in the previous session, on the back of positive Asian cues and a decline in Covid cases across the country. At 9:18 am, the BSE Sensex had reclaimed the 50,000 marks and was trading at 50,150.55, higher by 571.35 points or 1.14 percent and the NSE Nifty was back above the 15,000 marks at 15,091.75, up 170.80 points or 1.15 percent.
Asian markets rose as investors reacted to the release of Japan’s first-quarter gross domestic data. The Taiwan index surged 3.28 percent, Nikkei jumped 2.12 percent and the Topix index advanced 1.49 percent.
Technology stocks pulled Wall Street’s main indexes lower on Monday, as signs of inflationary pressures building up in the economy kept investors worried about monetary policy tightening.
The Dow Jones was down 0.46 percent, at 34,223.93, the S&P 500 was down 0.47 percent and the Nasdaq Composite was down 0.69 percent.
On the earnings front, Tata Motors, Canara Bank, Aarti Industries, and Abbott India will announce their Q4 numbers during the day.
Financial and banking stocks are witnessing buying interest this morning. Bajaj Finance, Axis Bank, IndusInd Bank, HDFC Bank, and ICICI Bank have gained between 1.7 percent and 3 percent each to emerge among the top gainers in the BSE pack. And Tata Motors has gained 1.4 percent ahead of its Q4 results scheduled during the day.