Markets open in green: Sensex up 550 points, Nifty nears 15,050; RIL up

FPJ Web Desk | Updated on: Thursday, April 29, 2021, 09:40 AM IST

Bombay Stock Exchange | File Image
Bombay Stock Exchange | File Image

The stock markets opened on a positive note today. At 09:16 IST, the Sensex was up 510.62 points or 1.03 percent at 50244.46, and the Nifty was up 145.40 points or 0.98 percent at 15009.90.

Midcap and small cap indices traded almost a percent higher each. All the sectoral indices traded in the green led by banks, metals, auto and FMCG.

The markets were poised to open yet another day with stronger gains on back of the stimulus from the US president. US President Joe Biden has laid out an $1.8 trillion social support plan, in his address to the Congress.

Domestic equities rose sharply, likely on foreign fund inflows. "We have been highlighting that the Nifty looks bullish and could possibly reclaim 15000 marks in this swing. We are almost there. SGX is indicating an open above 15,000 for Nifty. The possibility of a new all-time high cannot be ruled out as long as the Nifty sustains above 14525," said Abhishek Goenka, Founder & CEO, IFA Global.

The markets saw a strong run in the crude prices by Brent rallying over $67 per barrel close to a six week high prices. The AMC's stocks will be in focus in today's trading after the SEBI rule that top executives of asset management companies will now be paid 20 percent of their compensation in units of the schemes that they have a role in or oversight of with a lock-in period of three years. This way the goals of the Mutual fund Investors and the Investment managers will be aligned and help India to further deepen the Mutual fund Investor base, said Mohit Nigam, Head, PMS, Hem Securities

Quarterly earnings of Hindustan Unilever, Bajaj Auto, Titan Company, Ambuja Cements, Bajaj Holdings & Investment, Embassy Office Parks REIT, Equitas Small Finance Bank, Exide Industries, Inox Leisure, Kirloskar Pneumatic, L&T Finance Holdings, Laurus Labs, Motilal Oswal Financial Services and Sterlite Technologies, will be released today.

Asian shares up

Asian shares rose in early trade on Thursday after the US Federal Reserve said it was too early to consider rolling back emergency support for the economy, and as President Biden unveiled plans for a $1.8 trillion stimulus package, Reuters said.

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Published on: Thursday, April 29, 2021, 09:32 AM IST