Domestic stock markets started Monday’s session on a positive note tracking Asian equities, which climbed to two-year peaks led by strong gains in China as investors bet on a steady recovery in the world’s second larges economy. The S&P BSE Sensex index opened 207.85 points – or 0.51 per cent – higher at 40,717.34, and the broader NSE Nifty 50 benchmark began the day at 11,973.55, up 59.35 points – or 0.50 per cent – from its previous close.
Gains across sectors pushed the markets higher.
Share markets in other parts of Asia jumped led by Chinese shares, though caution about the fate of US stimulus kept the dollar firm and a central bank policy tweak unwound some of the yuan’s gains.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8 per cent to a two-and-a-half-year high, buoyed by a 2 per cent gain in Chinese blue chips and a 1.5 per cent rise in Hong Kong’s Hang Seng index.
However, Japan’s Nikkei 225 benchmark slipped 0.3 per cent as investors fretted about corporate earnings.