Opening Movers: Markets trade higher owing strong rebound rally amidst rising recession concerns

On Thursday morning, the benchmark equity indices opened higher owing to a strong rebound rally in the US markets.

The Asia Pacific markets are also showing bullish signs as the Japanese Nikkei Composite index is trading higher by 2.10 % and China’s Shanghai Composite is trading flat on the lower side by 0.14%. The US Equity indices ended on the greener side on Wednesday as the core indices Dow Jones and S&P 500 settled higher by 1.40% and 1.83%, respectively, whereas the tech-heavy Nasdaq index jumped by 2.14%.

The Sensex is at 59,533.42, up by 504.51 points or 0.85% whereas the Nifty 50 is trading at 17,762.45, up by 138.40 points or 0.78%, since the last trading session. Meanwhile, the Nifty Bank is trading lower by 1.22% at 39,937.70

The top gainers on the frontline indices this morning were Mahindra & Mahindra, Bharti Airtel, ICICI Bank, IndusInd Bank, and Asian Paints. Whereas the top losers were Tata Steel, SBI Life Insurance, Hindalco Industries, Coal India, and Britannia Industries.

BSE Midcap was trading at 25,925.22 up by 0.41%. The top gainers of BSE Midcap were Kansai Nerolac, Nuvoco Vistas, Castrol, Bajaj Holdings, and Oracle Financial Services. Whereas the shares of Endurance Technologies, Zee Entertainment Enterprises, Gland Pharma, Colgate, and Godrej Properties were pulling down the index.

BSE Smallcap was at 28774.65, up by 0.43%. The top gainers of this index were Schneider Infrastructure, Future Consumer, Sonata Software, and Infibeam Avenues, whereas the top losers of the index were Techno Electric and Engineering, BEML, MMTC, and Fineotex Chemicals.

On the BSE, 2240 shares have advanced, 959 shares have declined and 155 are unchanged. Also, 258 stocks have hit their upper circuit and 87 stocks have hit their lower circuit.

The top trending stocks on BSE this morning is Apollo Tyres, ICICI Bank, Yes Bank, Cochin Shipyard, and Coal India.

On the sectoral front Auto, BSE IT, BSE Private Bank, and BSE Telecom are trading higher by a per cent each.