Domestic stock, markets started on a positive note led by gains in PSU bank, auto, and financial services stocks.
The S&P BSE Sensex started at 35,118.09, against its last close of 34,981.02 while the Nifty50 barometer of the National Stock Exchange (NSE) opened at 10,612.65 as compared to its previous close of 10,526.75.
At 9:17 am, the 30-share Sensex was at 35,141.17, up 160.15 points or 0.46 per cent while the 50-scrip Nifty was at 10,573.65, with a gain of 46.90 points or 0.45 per cent.
Thirty eight out of 50 Nifty stocks traded with gains.
Gaining between 1.99 per cent and 3.91 per cent, Bharti Infratel, Bharti Airtel, Bharat Petroleum, Hindustan Petroleum and Indian Oil Corporation were the top Nifty gainers.
Experts believe that volatility will continue on Dalal Street this week.
“Markets will keep an eye on the state assembly elections in Madhya Pradesh and Mizoram which will be held on 28 November as well as the GDP data for third quarter to be announced by the Government on 30 November, the forecast for the same being 7.4 per cent. Volatility is expected to continue given these events and also being F&O expiry week,” said Rahul Sharma, Senior Research Analyst, Equity99.
“On the global front, markets will focus on the G20 meeting in Buenos Aires next week for cues to the ongoing US-China trade spat, crude oil price movement and movement of rupee against the dollar.”
In the global markets, Asian shares edged higher, though investors were cautious as plunging oil prices fanned worries about a dimming outlook for the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.4 per cent, led by gains in Taiwan shares following local elections, while Japan’s Nikkei advanced 0.6 per cent, reported . In China, the Shanghai Composite Index ticked up 0.3 per cent.
US crude futures fetched $50.53 per barrel, slightly higher though not far from Friday’s low of $50.15.>