Indian indices opened to new records after the rally of Asian and American peers. Sensex has opened over 300 points while Nifty is above 16,800.
Asian stocks started the week on a positive note following the rally on Wall Street after encouraging comments from the Fed chairman last week.
Japan’s Nikkei and South Korea’s Kospi started off with gains while Hong Kong’s Hang Seng and Shanghai Composite started flat.
Wall Street rallied on Friday, with all three major indices closing the session and the week higher, hitting a closing record for the fourth time this week. The rally came after US Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium allayed fears about the reduction in the schedule and sent investors into a buying mood over the weekend.
The Dow Jones Industrial Average gained 0.6% while the S&P 500 rose 0.8% to a new high and close. The Nasdaq Composite added 1.2%, also hitting a new high during the session.
London’s FTSE 100 rose on Friday, boosted by energy and metals stocks with the help of high commodity prices. At the same time, the recovery in US markets and the Fed’s stance on tapering also relieved investors.
The FTSE 100 finished up 0.3%, with BP, Royal Dutch Shell, Anglo American and Rio Tinto being the main winners. The domestically-focused mid-cap FTSE 250 index rose 0.5 percent to a record closing high. Energy stocks, industrial mining and healthcare stocks were the top three performers this week.
Additional reports by agencies
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This notice was published: 2021-08-30 05:23:48