Markets Open On A Firm Note, Sensex Jumps 372.78 Points

Banking indices remain firm as HDFC Bank jumped 5 per cent after it announced 2.5 per cent growth in its pre-tax profit in the March quarter.

New Delhi: Equity markets on Monday opened on a firm note as the benchmark Sensex jumped 372.78 points at 31,961.50 while the Nifty surged 102.80 points to open at 9,369.55. Banking stocks remain firm in the index as HDFC Bank jumped 5 per cent after it announced 2.5 per cent growth in its pre-tax profit in the March quarter. Even IT major Infosys also moved 2 per cent higher ahead of the quarterly results. There will be a close watch on the stock whether it continues with revenue growth projections during the tough economic phase due to the global outbreak of Covid-19. The key stocks to remain in focus include  HDFC Bank, Tata Consultancy Services, Tata Motors and ICICI Banks. Meanwhile, Asian stocks remain flat in an early market opening with Japan's Nikkei weakening marginally by 0.9 per cent, while Hang Seng index in Hong Kong remains unchanged at 24,423 points from earlier close. Shanghai Composite index in China was also nearly flat at 2,842.8 points. There were gains in Wall Street indices on Friday which was propelled due to a rise in Boeing stocks, and a hint of kick-starting the US economy hampered by the outbreak of Covid-19, amid hopes of a potential drug by Gilead in treating patients. Boeing shares rose around 15 per cent on news about restarting commercial jet production in Washington state after the operations were suspended in March due to the Covid-19 pandemic. The Dow Jones Industrial Average rose 704.81 points, or 2.99 per cent, to end at 24,242.49, while the S&P 500 gained 75.01 points, or 2.68 per cent, to 2,874.56 and the Nasdaq Composite added 117.78 points, or 1.38 per cent, to close Friday's session at 8,650.14. (With inputs from agencies)