BSE Sensex and NSE’s Nifty 50, the stock market equity benchmark indices, opened in green with Sensex up 400 points, increasing 0.57 % while the Nifty 50 was above 22,550 with a 0.4% gain.
On May 6 at 9:30 am, Sensex was trading at 74,321.62 up by 455 points and Nifty was trading ar 22,564.85 with a rise of 89 points.
Last Friday, the majority of stocks showcased muted performance after strong gains in the earlier trade. Today, the market is expected to react to the US employment data, positive cues from its Asian peers and a potential buying spree after a connection in the last trading session.
Market opening top gainer was Kotak Mahindra Bank, trading at Rs 1,617.30 apiece up by over 4.3 %, as of 9:54 am. Following the private bank, IT majors such as TCS, Infosys, HCL Tech, and Tech Mahindra were driving the indices. The NIFTY IT index was showing strong recovery of 1.5 % after a decline in the last trading session.
US market, on Friday, closed higher driven by positive sentiments after Warren Buffett’s Berkshire Hathaway quarterly results. The optimism is likely to transit across Asian markets. Asian markets started on a positive note, benefiting from gains on Wall Street after the release of US jobs data, which eased concerns about prolonged high-interest rates. The rebound in global risk sentiment was primarily driven by the weaker-than-expected April US job data, as per OCBC analysts.
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