The domestic stock markets have opened in the green on the back of positive global cues. Wall Street had closed at new highs on Friday and early trends on SGX Nifty had indicated a gap-up opening for the markets back home. At 9:20 am, the Sensex was trading at 52,710.63, higher by 222 points or 0.47 per cent and Nifty was at 15,798.15, up 70.70 points or 0.48 per cent. In the broader markets, the BSE Midcap and BSE Smallcap indices have gained 0.2 per cent and 0.6 per cent respectively.
Shares in Asia-Pacific were mixed in Monday morning trade as oil prices hovered about $76 ahead of another meeting between OPEC and its allies. Investors are also looking ahead to data releases in Australia and China.
In Japan, the Nikkei 225 slipped 0.5 per cent in early trade and Topix index shed 0.43 per cent. South Korea’s Kospi edged higher by 0.33 per cent.
Wall Street scaled new highs on Friday, with the S&P closing up for a seventh straight day, after jobs data for June showed robust hiring. The Dow Jones rose 0.44 per cent, S&P 500 gained 0.75 per cent and Nasdaq Composite added 0.81 per cent.
On the IPO front, India Pesticides will debut on the bourses today.
On the stock-specific front, select auto and financial stocks are witnessing buying interest. Bajaj Auto, Powergrid, Axis Bank and TCS are the top Sensex gainers, rising around a per cent each on the BSE. HDFC Bank, Bajaj Finserv and M&M are the other significant gainers among the Sensex stocks.
On the other hand, Dr Reddy’s is the sole loser on the Sensex; the stock of the pharma giant edged lower by 0.1 per cent.
The BSE market breath is strong. Out of 2,711 stocks traded on the BSE, there are 1,915 advancing stocks as against 676 declines.