Domestic stock markets have opened higher in trade on Monday, continuing with the gains in the previous session, on the back of strength in TCS. The BSE Sensex was trading at 49,038.65, hifher byy 278.45 points or 0.56 per cent and the NSE Nifty was at 14417.50, up 73.55 points or 0.52 per cent.
Meanwhile, Asian shares took a breather on Monday while Treasury yields were at 10-month highs as “trillions” in new U.S. fiscal stimulus plans were set to be unveiled this week, stoking a global reflation trade.
Investors were keeping a wary eye on U.S. politics as pressure grew to impeach President Donald Trump, though signs were an actual trial could be some time away.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent, having surged 5 per cent last week to record highs. Japan’s Nikkei was on holiday after closing at a 30-year high on Friday.
In Friday’s session, the S&P BSE Sensex rallied over 750 points and Nifty 50 index climbed above 14,350 as markets broke record highs for tenth session on Friday on the back of a broad-based buying interest.