Sensex rises above 500 points, Nifty rises above 15,000

Domestic stock markets are strong open, with the momentum seen in the previous session, due to positive Asian signs and declining cases of Kovid across the country. At 9:18 am, the BSE Sensex had recaptured the 50,000 mark and was trading at 50,150.55, up 571.35 points or 1.14 percent and the NSE Nifty was up 170.80 points or 1.15 percent above the 15,000 mark at 15,091.75.

Investors’ reaction to the release of Japan’s first-quarter gross domestic data boosted Asian markets. Taiwan index rose 3.28 percent, Nikkei 2.12 percent and Topics index 1.49 percent.

Technology stocks pulled Wall Street’s main indices down on Monday, as signs of inflationary pressures in the economy kept investors worried about tightening monetary policy.

The Dow Jones was down 0.46 per cent at 34,223.93, the S&P 500 was down 0.47 per cent and the Nasdaq Composite was down 0.69 per cent.

On the earnings front, Tata Motors, Canara Bank, Aarti Industries and Abbott India will announce their Q4 numbers during the day.

Meanwhile, oil prices climbed on Tuesday, increasing gains from the previous day, as optimism on the reopening of the US and European economies led to a rise in COVID-19 cases and a new wave of sanctions leading to fears of slower fuel demand in Asia got rid of.

Brent crude oil futures were up 20 cents or 0.3 percent at $ 69.66 a barrel at 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents, or 0.3 percent, at $ 66.46 a barrel.

On Monday, the BSE Sensex rose 848.18 points to 49,580.73 and the Nifty climbed 245.40 points to close at 14,923.20.

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