Markets rise at start; Sensex soars 400 points
Indian markets witnessed a significant gap up opening on Monday amid a surge in markets across Asia as traders cheer the upbeat US June jobs data which signaled a solid recovery in the world’s biggest economy, bolstering risk taking appetite.
The focus this week for D-Street investors will be on the June inflation and May industrial output data, Q1 earnings numbers from software majors Infosys and TCS and the progress of the monsoon rains, which will offer further cues over the health of Asia’s third biggest economy.
At 9.34 am, the Sensex was trading at 27531, 402 points higher and the Nifty was trading at 8438, up by 115 points.
Asian stocks soared today tracking a near record finish at Wall Street on Friday as better-than-expected US June payrolls numbers signaled evidence that the US job market recovery remains firmly on track, a good omen for the country’s economy. Investors are betting on strong US economic growth to help counter concerns over Europe’s economy in the aftermath of Brexit.
Trend in FII flows: The FIIs were net buyers of Rs 330.62 Cr in the cash segment on Friday while the DIIs were net sellers of Rs -512.67 Cr, as per the provisional