Indices Open Lower Amid Strong Global Cues; JSW Steel Top Gainer

Indices opened the new week on a subdued note owing to rising Covid cases. As per the Worldometer, India logged its biggest spike of 1.03 lakh cases. At the open Sensex was down 300 points, while nifty was dragged lower by 0.58% to 14765 levels.

Barring IT and metal, all the Nifty sectoral indices traded in the red, with most weakness in the financials and auto space.

Among individual stocks, JSW Steel is the top Nifty gainer followed by Britannia, Infosys and Tech Mahindra, while losers include Bajaj Finance, Eicher Motors, IndusInd Bank, Bajaj Auto and ITC.

On the macro level, investors will also watch out for March manufacturing PMI data that will be notified later today.

Tata Motors has completed the transfer of its defence business with effect from April 1 to Tata Advanced Systems Ltd (TASL) for a financial consideration amounting to Rs 227.7 crore.

Meanwhile, Asian markets at the time of writing this copy traded positive with gains of over 0.8 percent on both Japan's Nikkei and Singapore's Straits Times.

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