Markets open positive following global cues

After a weak performance in the last week, the BSE Sensex has shown a positive opening and is trading firm, up by over 280 points. The Nifty is also seen trading higher following global cues. All the sectoral indices are trading up by over 1%. Amongst all the indices, the Metal Index has gained a maximum 3%.

All the other Asian indices are trading in the green, indicating a good day for investors today. The Hang Seng and Nikkei, are both trading up by over 1.7%, while Shanghai, Taiwan and KOSPI are seen trading in the green.

Amongst the sectoral indices, Realty, Power, CG and Bankex are up by between 1.8%-2.2% each. On the BSE, the Mid-Cap, Small-Cap and IPO indices are also seen trading in the green.

From the Sensex stocks, Hindalco has gained 4.36% so far. Other Metal stocks such as Sterlite industries, Jindal Steel and Tata Steel are also up by over 2%. Power equipment manufacturer, BHEL, is the second-highest gainer, up by 3.21%. Among the IT stocks, Infosys is up by 2.54%, while its counterparts TCS and Wipro are up by over 1% each.

Amongst the BSE 30 stocks, there is no stock trading low today. JSW Ispat has gained over 4.78%, while Financial Tech has also gained over 4%.

RIL has gained over 1.86%. Other Reliance stocks are also seen trading in the green. Tata Group stocks are trading in the positive. 

The market breadth, which indicates the overall health of the market, is extremely positive. Out of the total 2333 stocks, 1831 stocks advanced, while only 444 stocks declined. 58 stocks remained unchanged.

We expect the markets to remain firmly positive over strong global cues.