Sensex Opens 300 Pts. Higher, Nifty Tops 14900 Levels; Metals Outperform

Indian indices opened higher as against Asian indices which are mostly trading weak even as the US markets hit another record high on US Fed's supportive policy. At the start, Nifty opened with gains of 91 points and topped levels of 14900, while Sensex was up 310 points higher. Broader markets too performed in line, with Nifty Mid-cap 100 up 0.6%.

Sensex Opens 300 Pts. Higher, Nifty Tops 14900 Levels; Metals Outperform

RIL stock will be in focus after SEBI has levied a fine of Rs. 25 crore on various Ambani family members including Mukesh Ambani, Nita Ambani, Anil Ambani among others. This penalty is in relation to increasing the company's promoter shareholding in the year 2020, which increased by 6.83 percent on warrant conversion. And this promoter shareholding had to be accompanied by an open offer which the Ambani didn't make thereby violating the SEBI rules. The stock gained despite the penalty.

IT stocks shall also gather focus today after ISG and Gartner released strong forecast for the year 2021.

Muthoot Finance has announced its 25th series of NCDs of face value of Rs. 1000 per share. This to amass a total of Rs. 1700 crore.

Meanwhile, at the time of writing this copy, Asian indices traded mixed with Japan's Nikkei down 0.40% while other indices traded higher.

Crude oil price surged due to improving global economic outlook, nonetheless the gains were kept in check because of rising gasoline inventories.
Brent gained 0.67 per cent to settle at $63.16 per barrel.

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