Indian markets start positive as new financial year commences today

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Indian markets started on a positive note as the financial year 2019 officially commenced today. The equity markets were trading in green amid positive global cues.

The 30-share benchmark BSE Sensex gained more than 100 points to reclaim 33000-mark in the early hours of trade on Monday. It rose by 133.32 points or 0.40 percent to 33102. It had lost 205.71 points in the last session on Wednesday.

Gains were led by infrastructure, auto, oil &gas, healthcare, IT, capital goods and metal stocks. Stocks of Tata Motors, Bajaj Auto, Maruti Suzuki, M&M rose up to 2.46 percent.

Other gainers were Adani Ports, L&T, Yes Bank, Dr Reddy’s, Tata Steel, Kotak Bank, HDFC, Infosys, ONGC, Sun Pharma, HDFC Bank, SBI and TCS gained over one and a half percent.

In comparison to the above Coal India, ICICI Bank, Asian Paints, Wipro, Axis Bank, and Hindustan Unilever were trading in negative zone.

The broader 50 shares Nifty of the National Stock Exchange was trading higher by 64.85 points or 0.64% to 10178.55.

Brokers said the beginning of new financial year and April F&O series, amid positive Asian cues, boosted investor sentiment here.

In other Asian Markets, Japan’s Nikkei soared 0.50 percent. Shanghai Composite Index gained 0.20 percent in the early hours of trade.

The Dow Jones Industrial Average rose to 1.07 percent at end of a holiday-shortened week on Thursday.

Markets in Hong Kong are shut on Monday.

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