Stock Markets in India Shows Positive Action for Today
Tuesday Morning seems to be very bright for auto and bank stocks in the domestic stock markets. BSE Sensex and NSE’s NIFTY have opened strong, building on the gains witnessed in the previous session, on the back of positive global cues. At 9:35 am, the BSE Sensex was trading at 52,197.35, higher by 268.90 points or 0.52 per cent and the NSE Nifty was at 15,651.36, up 68.30 points or 0.42 per cent. The broader markets are also trading firm, with the BSE Midcap index and BSE Smallcap index gaining around 0.4 per cent each.
Asian markets were mixed in Tuesday morning as investors await the release of a private survey on Chinese manufacturing activity in May. Japan’s Nikkei 225 rose 0.11 per cent in morning trade, while the Topix index gained 0.17 per cent and South Korea’s Kospi edged higher by 0.62 per cent.
Meanwhile, recording its worst ever performance in over four decades, India clocked a negative growth of 7.3 per cent for 2020-21 while the fourth quarter of the fiscal showed a meagre rise of 1.6 per cent.
And the index of eight core industries rose in April 2021. The index of eight core industries stood at 126.7 in April 2021, showing an increase by 56.1 per cent compared to April 2020.
On the stock-specific front, Bajaj Auto, HDFC, Bajaj Finance and SBI are the top gainers among BSE stocks; registering gains of 1.3-2.7 per cent each on the BSE. And ITC has edged higher by 0.3 per cent ahead of its March quarter results scheduled later in the day.