Benchmark Indices are expected to open on a positive note as trends on SGX Nifty indicates a gap-up opening with 49 points gain. Global stocks are trading higher as data showing improvement in the labor market which translate to sharp economic recovery. Moreover, Indian COVID numbers continue to fall, said Mohit Nigam, Head, PMS - Hem Securities.
At 09:02 AM, the Sensex was up 194.95 points or 0.38 percent at 51310.17, and the Nifty was up 39.80 points or 0.26 percent at 15377.70.
A number of companies are announcing production schedules. Market breadth continues to be positive with FII data continuing to be very bullish, Nigam added.
Key companies announcing their quarterly results today are Mahindra & Mahindra, Ipca Lab, 3M India, Dilip Buildcon, GMM Pfaudler, Heidelberg Cement, Ujjivan Financial services etc. Immediate support for Nifty 50 is 15,200. We are eyeing to hit a fresh all time high in the markets.
Asian stocks up
Asian stocks put global equities on course for a seventh day of gains on Friday as investors bet the US will lead the world out of the COVID-19 pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration, Reuters said.
The Nikkei jumped 1.9 percent early in the session. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent, hitting its highest level this month, though Chinese blue chips slipped 0.1 percent just after the open, the report said.
Petrol prices unchanged
Petrol and diesel prices remained untouched on May 28.
In Delhi, petrol was retailing at Rs 93.68 per litre and diesel at Rs 84.61 per litre, according to Indian Oil Corporation. In Mumbai, the petrol price is Rs 99.94 per litre and diesel at Rs 91.87 per litre.
In Kolkata, petrol is retailed at Rs 93.72 per litre and diesel at Rs 87.46; and in Chennai petrol costs Rs 95.28 and diesel Rs 83.39 per litre each.
The petrol rates have already crossed the ₹ 100-mark in several cities in Rajasthan and Madhya Pradesh. Fuel rates vary across the states in the country due to value-added tax or VAT.
