Markets Trade Higher, Metals Trade Soft

Benchmark indices continue to trade higher following a solid rally on Friday, as investors continue to remain optimistic given the decline on Covid-19 cases.

Asian markets were trading mixed, with stocks in mainland China and the Japanese Nikkei seen trading higher. The Sensex was trading with gains of nearly 200 points, while the Nifty was up 47 points in trade.

Shares in HeroMoto Company jumped after the company said it will resume production at all of its facilities. Previously the company informed that the company began with single shift production at 3 of its facilities.

Shares in Punjab and Sind Bank rallied after the bank reported profits for the quarter ending March 31, 2021. The shares were up almost 3 per cent in trade.

Hindalco, however, saw its share falling even after the company reported a net profit jump of 189 per cent in the last quarter. The stock was down 2 per cent in trade.

In fact, other metal stocks like JSW Steel and Tata Steel were also trading lower. Among the Nifty stocks that gained were State Bank of India, Power Grid, Cipla and HDFC Bank.

Indian markets this week are expected to move largely in tandem with global markets. The decline in Covid-19 cases should augur well for the markets.