Markets Open On A Firm Note, Sensex Jumps 320 Points To Reclaim 31,000, Nifty Surged 9,100

Asian shares rose in the morning session on global cues with Japan leading the gains, and Nikkei soaring 1 per cent to its highest since early March.

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New Delhi:  After the extended weekend, Markets opened on a firm note on Tuesday with Sensex rising 320 points to reclaim 31,000 levels while Nifty50 index also soared 9,100 levels led by top gainers including HDFC twins and ITC.

FMCG major ITC Ltd rose 4 per cent and HDFC Bank surged 2 per cent. Housing finance firm HDFC reported its March quarter results on Monday. It reported a 10 per cent dip in consolidated net profit to ₹4,341.58 crore for the fourth quarter ended March 31. The board has proposed a dividend of ₹21 per share of the face value of ₹2 per unit.

Meanwhile, Bharti Airtel slipped 4 per cent on expectations that the promoter Bharti Telecom is aiming to sell a small stake in the telecom giant through block deals to raise $1 billion on the stock exchanges, according to Mint report on Tuesday.

Bharti Telecom Ltd is expected to sell a 2.75 per cent stake in the company at a floor price of ₹558 per share, according to a Mint report.

Meanwhile, Asian shares rose in the morning session on global cues as European markets remain upbeat with investors hoping for a breakthrough in the Sino-US trade tensions.

Investors in European markets remained positive as the survey showed German businesses found solace in May as activity started to normalise after lockdown.

Japan's Nikkei soared 1 per cent to its highest since early March when the economic impact of the Covid-19 outbreak became pronounced.

MSCI's broadest index of Asia-Pacific shares outside Japan expanded 0.1 per cent in early trade, while South Korea rose 0.4 per cent.

Oil prices gained on prospects that countries continue to rein in crude supply even as transport resume with lockdowns easing around the world.