INSUBCONTINENT EXCLUSIVE:
Domestic equity indices rose in the opening trade on Monday as select factories and construction work are set to resume while news reports
suggest that the government is giving final touches to an economic stimulus package
Finance Minister Nirmala Sitharaman on Friday reiterated India will soon announce fresh relief measures and economic stimulus
However, she did not provide any timeline for the same.
At 9.30 am, BSE flagship Sensex was up 216 points or 0.68 per cent to 31,804 while
NSE benchmark Nifty added 25 points or 0.28 per cent to 9,292
Broader market indices were faring in-line with their headline peers as Nifty Smallcap gained 0.58 per cent while Nifty Midcap advanced 0.32
a higher range of 9,500 as it is being overbought on daily charts and faces resistance on various time frames
Bank, which reported its March quarter numbers on Saturday, was the biggest gainer, up nearly 5 percent at Rs 954.45 while Infosys, which is
set to come out with its Q4 earnings today, gained 3 per cent to Rs 648.60.
Kotak Mahindra Bank, HDFC, Tech Mahindra, HCL Tech and Ultratech
Cements were among other gainers in the 30-share pack Sensex
On the other hand, Axis Bank, Power Grid, ONGC and IndusInd Bank were top losers in the pack.
Sectoral matrix on NSE was mixed with Nifty
Bank, Nifty IT, Nifty Financial Services and Nifty Realty registering gains while Nifty Pharma dropped nearly over a per cent
Nifty Media and Nifty Metal were other losers.
Globally, caution gripped Asian share markets on expectations of a busy week of corporate
earnings reports and economic data that will drive home the damage done by the global virus lockdown, while a glut of supply sent US crude
spiralling to 20-year lows.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent in slow trade, with a pause
needed after five straight weeks of gains
Japan's Nikkei fell 0.9 per cent and Shanghai blue chips 2.4 per cent even as China cut benchmark interest rates as widely
expected.
E-Mini futures for the S-P 500 slipped 0.2 per cent, having jumped last week on hopes some U.S
states would soon start to re-open their economies.