Markets Recover In Opening Trade, Sensex Jumps 500 Points

Sensex jumped 554 points, or 1.77 per cent, to 31,880 while the Nifty50 index crosses 9,300 levels.

( Getty Images)

New Delhi: Markets have jumped back into the green during the opening session on Monday as the Sensex jumped 554 points, or 1.77 per cent, to 31,880 while the Nifty50 index crosses 9,300 levels. Some of the stocks which rallied include the heavyweight Reliance Industries and HDFC, which rose 2 per cent each while IndusInd Bank was up 3 per cent. Mindtree also moved 7.5 per cent in early deals after declaring its March quarter results. Meanwhile, Asian shares also moved up in the opening deals amid results and central bank meet and expectations of stimulus measures by Bank of Japan. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent in early trade, having shed 2.6 per cent last week while Japan's Nikkei gained 1.1 per cent. The Federal Reserve and the European Central Bank to discuss later in the week, with the latter likely to do more, to deal with the economic fallout of the pandemic. The Federal Reserve and the European Central Bank meet later in the week, with the latter likely to do more, to mitigate the economic fallout of the pandemic. Also Watch: Singapore University research claims Corona in India will end on 21 May In the US, earnings season will start with around 173 companies in the S&P 500announcing results including Apple, Amazon, Facebook, Microsoft, Caterpillar, Ford, GE and Chevron. Oil prices seem to face another volatile week, having fallen in eight of the last nine weeks. US crude even traded below zero last week as demand collapsed 30 per cent due to the pandemic, leaving more oil than could be stored. Brent crude futures firmed 45 cents to $21.89 a barrel, while US crude fell 52 cents to $16.42. (With inputs from agency)