Stock market live: India’s benchmark indexes made a gap-up start on Monday (May 6) following positive cues from Wall Street following better-than-expected unemployment data. BSE Sensex opened 340.91 points or 0.46% higher at 74,219.10 and Nifty opened 85.80 points or 0.38% higher at 22,651.60.
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OCBC analysts said in a note that global risk sentiment had improved, mainly due to weaker-than-expected U.S. jobs data, Reuters reported.
On the sectoral index, autos, IT, pharma, FMCG, real estate and healthcare remain in the green, while PSU banks, metals, energy and media are trading in the red. The market is also reacting to the earnings report released over the weekend. Britannia stock had the highest percentage increase, while Titan stock had the largest decline after the fourth quarter results.
PSU stocks were reported to have fallen sharply in the first few hours of trading while all components of Nifty PSE were trading in the red. The index was trading down 343.40 pints or 3.44% at 9,914.35.
Similarly, GIFT Nifty was trading 94.50 points or 0.42% higher at 22,675.50 at the opening bell.
However, the overall market showed a weak trend with the Nifty Midcap 100 dropping by 300 points to trade around the 50,600 mark. Nifty Small Cap 100 also fell 1.10 per cent to 16,769.80.
The rupee rose 3 paise against the US dollar in early trade to Rs 83.42. In the interbank foreign exchange market, the local currency reached 83.42 in early trades. On Friday, the rupee appreciated by 1 paisa to settle at 83.45 rupees against the US dollar.
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