Sensex, Nifty Open At New High; PSU Banks In Focus

Indices after record high closing in the previous session started on a strong note on global economic recovery cheer. Nifty at the start was up by 92 points at 15406, while Sensex gained over 300 points was at 52400. Bank Nifty after hitting record high was up 0.8 percent . Also, broader markets did well.

Positive comments by S&P Global Ratings will also enthuse investors, which said that Indian economy is on track for recovery in FY22 and estimates recovery at 10% in FY22.

Banking stocks shall be in focus after a report suggest that some 4 banks have been shortlisted for the privatization drive.

Nestle results will also be announced today, pertinently the sector has lagged ever since the start of the year and even after the Budget fuelled rally, the FMCG sector is seeing no substantial upmove.

Meanwhile, at the time of writing this copy, Asian markets traded upbeat with 1.6 percent gains on the Japanese Nikkei.

Oil prices continued to climb as the cold wave led to shutting of wells and refineries in Texas, i.e. the leading crude producer in the US.

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