Bombay Stock Exchange
Bombay Stock Exchange

The markets opened on a positive notes with the indices touching record levels on Monday in opening trade tracking gains in heavyweights Reliance Industries, ICICI Bank and HDFC. After touching a lifetime high of 53,126.73, the 30-share BSE index was trading 142.85 points or 0.27 percent higher at 53,067.89 in initial deals. The broader Nifty 50 index was just shy of 16,000, rising 130 points. It was trading 42.25 points or 0.27 percent higher at 15,902.60. It touched a lifetime intra-day peak of 15,915.65 in the opening session.

Majority of the Nifty sectoral indices traded in the green, led by Nifty PSU Bank index, up 1.8 percent. ONGC, Reliance were among leading gainers on the Nifty in opening trade.

In the previous session, the 30-share index Sensex closed 226.04 points or 0.43 percent higher at record 52,925.04, and Nifty advanced 69.90 points or 0.44 percent to 15,860.35.

Asian Paints was the top gainer in the Sensex pack, rising over 1 percent, followed by Dr Reddy's, NTPC, Axis Bank, Sun Pharma, Kotak Bank, ICICI Bank and Reliance Industries.

On the other hand, Titan, TCS, UltraTech Cement, Bharti Airtel and L&T were among the laggards.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 678.84 crore on Friday, as per provisional exchange data.

According to Binod Modi Head-Strategy at Reliance Securities, domestic markets look modestly good as of now. "A sharp fall in daily caseload and satisfactory ramp up in vaccination process overshadowed concerns emerging from higher crude prices and weakening rupee," he said, adding that better-than-expected 4QFY21 earnings performance of companies has also supported the market's uptick, according to PTI.

Two companies to be listed today

Dodla Dairy, Krishna Institute of Medical Sciences are the two companies that will list on the bourses on Monday

Asian markets mixed

Asian stock markets were trading mixed in early trade on Monday. Japan’s Nikkei 225 slipped in morning trade while the Topix index gained 0.11 percent. Australian stocks also slipped, as the S&P/ASX 200 fell 0.32 percent.

US stock indices on Wall Street, ended mixed on Friday. The Dow Jones Industrial Average rose 0.69 percent, while the S&P 500 gained 0.33 percent. The Nasdaq Composite dropped 0.06 percent.

Quarterly results announcements

NALCO, Aarvee Denims, Autoline Industries, Bartronics India, Eros International Media, Future Lifestyle Fashions, Federal-Mogul Goetze, Gammon India, GIC Housing Finance, IFCI, ISGEC Heavy Engineering, KPI Global Infrastructure, NLC India, Premier Explosives, Sadbhav Infrastructure Project, Surya India, Triveni Turbine, V2 Retail, Viceroy Hotels, Vivimed Labs, Welspun Corp, and Zee Media Corporation will announce their quarterly results today.

Fuel prices unchanged

Petrol and diesel prices are unchanged across the metros on Monday, according to data by the Indian Oil Corporation (IOC).

In Delhi, petrol price is at Rs 98.46 per litre and diesel at Rs 88.90 per litre. In Mumbai, petrol is being retailed at Rs 104.56 per litre and diesel rates Rs 96.42 per litre.

Petrol, diesel rates have been hiked 15 times this month. Currently, fuel rates are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states in India due to value-added tax. In Chennai, price of petrol is Rs 99.49 and diesel Rs 93.46 per litre while in Kolkata petrol costs Rs 98.30 and diesel Rs 91.75 per litre.

International oil benchmark Brent crude was trading 0.17 percent lower at $75.25 per barrel.

Gold imports up

Gold imports, which have bearing on the current account deficit, zoomed to $6.1 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Silver imports, however, dipped by 93.7 percent to $27.56 million.

Significant jump in the gold imports has lead to widening ofthe country's trade deficit, difference between imports and exports, to $21.38 billion during April-May this fiscal as against $9.91 billion in the year-ago period.

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