Indices Open Higher Tracking Strong Global Cues

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oi-Roshni Agarwal

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Indian benchmark indices amid mixed Asian markets edged higher in the opening on Tuesday. At the open, Sensex gained close to 150 points, while Nifty traded higher by 55 points at 14791. Broader markets however outperformed their benchmark peers, with Nifty Midcap 100 up 0.72 percent.

Indices Open Higher Tracking Strong Global Cues

Indices Open Higher Tracking Strong Global Cues

Banking stocks will be in focus as the SC is expected to give its verdict on a host of petitions by several industry bodies, including real estate and power sectors that sought extension of loan moratorium together with other relief measures citing the outbreak of pandemic.

All of the Nifty sectoral indices traded in the green, with Nifty PSU Bank up the most by 0.99%.

Bharti Airtel will take over an additional 3.3 percent stake in SPV Avaada MHBuldhana, which has been set up to own and operate a captive power plant.

IndusInd Bank stock edged higher by 1.7% after Moody’s Investor Service revised its outlook on the bank upwards from ‘negative’ to ‘stable’

Oil prices continued with their losing streak today and fell 1 percent as concerns of fresh Covid 19 restrictions and slow vaccine roll-out in Europe doused fuel demand recovery hopes. US West Texas Intermediate (WTI) crude futures for May delivery fell 62 cents, or 1%, to $60.94 per barrel.

Meanwhile at the time of writing this copy, Asian indices traded mixed with Japanese Nikkei, Singapore’s Straits Times up while Hong Kong’s Hang Seng traded with a loss of over 1 percent. After overnight gains, US stock futures traded with a cut of up to 0.34% on the NASDAQ.

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