Successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery
The domestic stock markets have opened in the green, after a lacklustre closing on Friday, on the back of positive cues from the global front. At 9:30 am, the BSE Sensex was trading at 52,040, higher by 502.35 points or 0.95 per cent and the NSE Nifty was at 15,293.55, up 132.50 points or 0.90 per cent. The broader markets were
Asian shares advanced to record highs on Monday and oil rose to a more than one year peak as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington.
Japan’s Nikkei climbed 1.3 per cent, despite data showing the country’s recovery from its worst postwar recession slowed in the fourth quarter. Australia’s benchmark index was up 1 per cent.
The S&P 500 and Nasdaq set record closing highs on Friday as investors bought energy, financial and materials shares and sold big tech stocks in anticipation of new fiscal aid from Washington to help the U.S. economy recover.
The Dow Jones Industrial Average rose 27.7 points, or 0.09 per cent, to 31,458.4, the S&P 500 gained 18.45 points, or 0.47 per cent, to 3,934.83 and the Nasdaq Composite added 69.70 points, or 0.5 per cent, to 14,095.47.
Financial stocks are leading the rally, with IndusInd Bank, HDFC Bank, HDFC, Kotak Bank and ICICI Bank gaining 1.1 per cent to 2.2 per cent each on the BSE. Index heavyweights Infosys and Reliance Industries also headed higher by up to half a per cent each on the bourses.
On the other hand, ONGC, Tech Mahindra and M&M had shed around half a per cent eaach on the BSSE.