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Sensex Opens Above 48,550

Ruchit Purohit Apr 27, 2021

D-Street opened higher for the second consecutive day in the week on mixed cues from the global markets and with initial signs of a decline in the number of Covid cases. The BSE Sensex opened higher by 164.54 points at 48,551.05, while the Nifty-50 opened at 14,542.70, up by 57.70 points.

The 30-share pack Sensex posted gains in 23 scrips out of 30 with Tech Mahindra, Reliance, and Bajaj Finance being its top gainers as they added over a per cent in the early trade on Tuesday, April 27. Overall, about 1017 shares advance, and 225 shares declined at the market opening.

Among the individuals, shares of Tech Mahindra were in major focus among all other shares after the company posted a 17.4 per cent decline in its consolidated profit at Rs 1,081.4 crore for the quarter ended March 2021. The company also announced an interim and special dividend of Rs 15 per share each which will be paid by August 2021.

Sectorally, almost all sectors were trading positive except for the Financial sector which posted minor losses at the market opening. The metal and realty sector added over a per cent and led the indices to a positive start on Tuesday. Shares of Hindalco(+3.19 per cent), and NALCO(+3.11 per cent) were the top boosts for the metal sector.

The Nifty realty sector has been on the upward rally for the past few sessions as the sector has gained as much as 4.53 per cent in the weekly period. The focus on Infrastructure and Real-estate development has led to the positives in the space, said experts. Shares of DLF and Sobha were among the top gainers in the space on Tuesday as they gained over 1.5 per cent each.

On the flipside, Axis Bank, SBI Life Insurance, and Kotak Mahindra were among the top index losers in the early trade as they shed over a per cent each. Shares of Axis Bank marked its day's low of Rs 685.80 ahead of its Q4 results which will be announced later today.

Among the global markets, Nasdaq, and S&P 500 of the wall street closed with record highs fueled by shares of Tesla Inc and other value stocks. However, the Asian markets didn't follow the rally in the U.S markets and were trading lower ahead of the U.S Federal Reserve meeting.