The domestic stock markets have a gap-up opening, post a 2-day decline, due to strong global cues. Wall Street rallied over the weekend and Asian markets are firm in early trading. At 9:18 am, the BSE Sensex was trading at 50,734.75, higher by 337.45 points or 0.67 per cent and the NSE Nifty was at 15,042.65, up 103.75 points or 0.7 per cent.
Asian shares rallied on Monday while the dollar held near three-month peaks after the U.S. Senate’s passage of a $1.9 trillion stimulus bill and a surprisingly strong payrolls report augured well for a global economic rebound.
The prospect of faster growth helped MSCI’s broadest index of Asia-Pacific shares outside Japan firm 0.4 per cent. Japan’s Nikkei gained 1.2 per cent, while S&P 500 futures rose 0.3%, after a sharp turnaround on Friday.
Wall Street, and a gauge of global equity markets, on Friday recovered from earlier losses as investors took stock of a report that showed faster-than-expected U.S. jobs growth but which had previously stoked inflation concerns.
The Dow Jones Industrial Average rose 446.98 points, or 1.45 per cent, to 31,371.12, the S&P 500 gained 59.5 points, or 1.58 per cent, to 3,827.97 and the Nasdaq Composite added 147.19 points, or 1.16 per cent, to 12,870.66.
On Friday, the BSE Sensex had shed 440.76 points at 50,405.32 and Nifty had declined 142.70 points to 14,938.10.