Markets Open Firm On Global Cues, IndusInd Bank, Titan, Techm Among Top Gainers

Titan Company surged 2 per cent in early deals after Q4 results were announced on Monday while Nestle, Kotak Bank and Maruti were the top laggards.

New Delhi: Markets in the opening trade remain firm as the Sensex jumped 150 points at 34,520.79, while broader Nifty 50 opened at 10,326.75, around 160 points higher. Top gainers included IndusInd Bank, which soared over 2 per cent followed by Titan, TechM, ONGC and Hero MotoCorp. Titan Company surged 2 per cent in early deals after Q4 results were announced on Monday Nestle, Kotak Bank and Maruti were the top laggards. Jewellery maker Titan on Monday posted a growth of 21.11 per cent in net profit to Rs 356.79 crore for the quarter ended March 31. On the 30 stock barometer index all 25 were in the green. Around 23 companies including Hero MotoCorp and Bombay Dyeing will announce their March quarter results. Sensex pared gains from the day’s high to close 0.2 per cent higher at 34,370.58 on Monday, while Nifty was down 34 points or 0.3 per cent higher at 10,167.45 at the time of closing. According to analysts in Business Standard report Hero Moto Corp is expected to report over 20 per cent fall in revenue impacted by 25 per cent year-on-year decline in total volumes. Asian stocks also continued the rally for ninth day on Tuesday and oil prices jumped as the lifting of coronavirus lockdowns in several nations offered hope of a global economic recovery. Australia ASX All Ordinaries climbed over 2 per cent, Shanghai SE Composite Index surged 0.4 per cent and Hong Kong's Hang Seng was also up 1 per cent. Meanwhile, US stocks closed firm on Monday, building on prior week's solid gains. On Monday, the Dow Jones Industrial Average jumped 461.46 points, or 1.70 per cent, to 27,572.44. The S&P 500 increased 38.46 points, or 1.20 per cent, to 3,232.39. The Nasdaq Composite Index was up 110.66 points, or 1.13 per cent, to 9,924.74, Xinhua news agency reported. US benchmark crude rose $1.28 a barrel to $38.68 a barrel, while Brent added $1.13 to $41.25. Boeing shares surged 12.2 per cent, leading the pack in the Dow. In fact, all 11 primary S&P 500 sectors were upbeat note with energy closing up 4.32 per cent, outpacing the rest. Shares of airlines, retailers, and cruise lines rose broadly as investors were hopeful about normalizing economic activities amid COVID-19 lockdown easing. (With inputs from IANS)