Indices gain for 6th day, Nifty reclaims 10K; PSBs, realty stocks rally

The S&P BSE Sensex ended 284 points or 0.84 per cent higher at 34,109.54 levels.
Extending its gains into the sixth consecutive session, the domestic equity market settled in the positive territory on Wednesday on optimism around gradual opening up of the economy and strong global cues. NSE's Nifty reclaimed the crucial 10,000 level after nearly 3 months amid buying in financial counters. 

The S&P BSE Sensex ended 284 points or 0.84 per cent higher at 34,109.54 levels while NSE's Nifty gained 82 points or 0.83 per cent to settle at 10,061.55. The index topped the key 10,000 level for the first time since March 13 this year. 

In the broader market, smallcaps outperformed the frontline indices while mid-caps ended flat. The Nifty SmallCap 100 index gained over 1 per cent to 4,278 levels while the Nifty Midcap 100 index gained 0.4 per cent to close at 13,924 points. 

Sectorally, Nifty PSU Bank index jumped over 5 per cent to 1,284.45 while Nifty Realty ended at 200.85 levels, up over 3 per cent. On the flip side, Nifty IT index slipped 0.42 per cent while Nifty Metal shed 0.17 per cent. 

Among individual stocks, Britannia hit a new high of Rs 3,704.55 during the session as the company reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. The stock ended at Rs 3,510.25, up nearly 2 per cent. READ MORE

Shares of InterGlobe Aviation-run IndiGo airline surged as much as 12.6 per cent to Rs 1,064.95 on the BSE after the airline' March quarter numbers beat Street expectations. Besides, analysts' optimism around strong recovery by financial year 2021-22 fuelled buying rally in the stock. The stock ended around 8.5 per cent higher at Rs 1,025.55 apiece on the BSE. READ MORE

Shares of Mahindra & Mahindra (M&M) moved higher by 6 per cent to Rs 485 on the BSE after the company announced fund raising plans. READ MORE

Global markets

World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the United States and rising Covid-19 tolls.

The MSCI world equity index, which tracks shares in 49 countries, rose to its highest since March 6, having gained throughout the Asian session.

MSCI’s main European Index also held near three-month highs and European bourses opened higher, with the STOXX 600 up over 1% and back to levels not seen since March 6.

In commodities, oil prices rose, topping $40 a barrel for the first time since March, supported by lower US inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis.

(With inputs from Reuters)

3:46 PM IST

3:43 PM IST

3:36 PM IST The S&P BSE Sensex gained 284 points or 0.84 per cent to settle at 34,109.54 while NSE's Nifty ended at 10,061.55, up 82 points or 0.83 per cent.

3:28 PM IST

3:19 PM IST

3:12 PM IST “The board of directors of the company will meet on June 12, 2020 to consider raising of funds by way of issuance of securities including but not limited to secured/unsecured redeemable non-convertible debentures on private placement basis, in one or more tranches / series,” M&M said in a regulatory filing. READ MORE

3:11 PM IST COMPANY DAY'S HIGH(RS) DAY'S LOW(RS) LATEST(RS) FALL(%) ADANI POWER 42.20 37.15 37.75 -10.55 IFB INDS. 471.10 419.10 430.00 -8.72 NAVA BHARAT VENT 47.65 43.05 43.60 -8.50 MAX FINANCIAL 492.00 451.95 452.00 -8.13 MAX INDIA 76.40 69.90 70.35 -7.92 LA OPALA RG 177.00 157.05 163.00 -7.91 Click here for the full list

3:03 PM IST

2:57 PM IST

2:51 PM IST The spend is expected to total $83.5 billion. “The fear of a global economic recession due to the Covid-19 pandemic is forcing CIOs (chief information officers) in India to be very cautious on their IT spending this year,” said Naveen Mishra, senior research director at Gartner. “In partnership with their CFOs, CIOs in India are reprioritizing their IT budgets on mission critical initiatives.” READ MORE

2:43 PM IST

2:39 PM IST

LIVE UPDATES

SECTOR WATCH:: IT, metal stocks slip in the trade


MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex gained 284 points or 0.84 per cent to settle at 34,109.54 while NSE's Nifty ended at 10,061.55, up 82 points or 0.83 per cent.

MARKET CHECK


MARKET UPDATE:: Orient Cement drops nearly 5%


Mahindra & Mahindra rallies 6% as board to consider fund raising plan

“The board of directors of the company will meet on June 12, 2020 to consider raising of funds by way of issuance of securities including but not limited to secured/unsecured redeemable non-convertible debentures on private placement basis, in one or more tranches / series,” M&M said in a regulatory filing. READ MORE

Fall from intra-day high today

COMPANY DAY'S HIGH(RS) DAY'S LOW(RS) LATEST(RS) FALL(%)
ADANI POWER 42.20 37.15 37.75 -10.55
IFB INDS. 471.10 419.10 430.00 -8.72
NAVA BHARAT VENT 47.65 43.05 43.60 -8.50
MAX FINANCIAL 492.00 451.95 452.00 -8.13
MAX INDIA 76.40 69.90 70.35 -7.92
LA OPALA RG 177.00 157.05 163.00 -7.91
Click here for the full list

MARKET UPDATE


Volatility index, India VIX, slips below 30-mark


India IT spending to fall 8% this year due to Covid-19, first fall in 5 yrs

The spend is expected to total $83.5 billion. “The fear of a global economic recession due to the Covid-19 pandemic is forcing CIOs (chief information officers) in India to be very cautious on their IT spending this year,” said Naveen Mishra, senior research director at Gartner. “In partnership with their CFOs, CIOs in India are reprioritizing their IT budgets on mission critical initiatives.” READ MORE

MARKET UPDATE:: Nifty PSU Bank index up 8%; Indian Overseas Bank, Bank of India, Central Bank of India, Union Bank of India, Indian Bank gain over 10%


HDFC Bank and ICIC Bank top contributors to Sensex's rally today


MARKET UPDATE:: Sensex at day's high


PSBs may report weak loan growth, NII amid Covd-19 crisis in Q4: Analysts

As credit growth slumps to decadal low of 6.14 per cent in the financial year 2019-20 amid the coronavirus (Covid-19) outbreak, public sector banks (PSBs), analysts say, may report single-digit sequential growth in the March quarter of FY20 (Q4FY20). Besides, marginal slip in net interest income, steady credit costs could be the other theme across the PSB segment. READ MORE 

Illustration: Binay Sinha

MARKET CHECK:: S&P Finance index gains 3.6%


BROKERAGE VIEW:: Anand Rathi Shares on KEI Industries

In the present trying circumstances KEI’s flattish Q4 growth was quite encouraging. We believe growth in the cable industry will continue, given the vast opportunities, while wires will see demand from smaller towns. We are upbeat on KEI for its strong order-book (Rs 33bn; including Rs 7.3bn EHV and Rs 16.4bn exports), diversified customers and a healthy balance sheet. The Rs 1.5bn order for 400kVA cables (EHV) sets KEI among the world’s top manufacturers. After strong 20%/20%/42% CAGRs in revenue/EBITDA/PAT over FY16-20, we expect a bounce back from FY22. We continue to believe in sustainable growth prospects for KEI and retain our Buy recommendation, with an unchanged target of Rs 411 (14x FY22e P/E). FCF generation continuing would help in a re-rating of the stock. Also, KEI’s likely entry into FMEG, like its peers, in the next 2-3 years could drive valuations.

BUZZING STOCK:: ICICI Bank surges nearly 6.5%


IT stocks trade mixed in an otherwise firm market

COMPANY LATEST(rs) CHG(%)
INFOSYS 700.40 -1.08
TATA ELXSI 836.65 2.02
WIPRO 211.40 -2.08
FIRSTSOUR.SOLU. 35.55 0.99
HEXAWARE TECH. 265.10 -0.34
» More

Stocks zoom despite record equity issuances, beating historical trend

Dalal Street has witnessed record equity issuances in four weeks, with investors making share sales worth over Rs 61,000 crore ($8.1 billion) without hampering the secondary market. Stocks gained, challenging the theory that large equity issuances suck out secondary market liquidity. Historically, large primary issuances weighed on stock prices but market players say this time it is different. READ MORE 


Despite Moody's rating downgrade, indicators point to rupee revival

Despite a sovereign rating downgrade by Moody’s, the rupee strengthened, and bond yields fell as markets shrugged off the downgrade. Currency dealers say the Reserve Bank of India (RBI) intervened in the currency markets, and may have even bought some bonds anonymously from the secondary markets. READ MORE

Pharma, auto, telecom, and FMCG stocks help Nifty regain 10,000 levels

Of the Nifty 50 companies, as many as 26 stocks were up from their respective March 13 levels. However, financials including banks such as IndusInd Bank, Bajaj Finance, Bajaj Finserv, State Bank of India (SBI), and Axis Bank were down more than 25 per cent from March 13 levels. READ MORE 


Europe opens higher


BUZZING STOCK:: Bajaj Finance climbs nearly 5%


Heatmap: S&P BSE Sensex gainers and losers at this hour


BROKERAGE VIEW:: Emkay Global Financial Services on Motherson Sumi

  • Q4FY20 revenue fell by 12% yoy to Rs152bn (est.:Rs134bn), while EBITDA margin expanded by 170bps to 9.2% (est.: 5.6%). Margin was above estimates due to better scale, higher share of India business and cost-reduction initiatives.
     
  • Due to the impact of the lockdown and expectation of a gradual pick-up in demand, we reduce our FY21 revenue estimate by 6% to Rs584bn, but increase FY22E revenue forecast by 4% to Rs726bn. We expect China and Europe regions to recover sooner than the India region, led by relaxation of lockdowns and government support measures.
     
  • Management has revealed Vision 2025 – revenue target of USD33-35bn with ROCE of 40%, vs. 2020 revenue of USD12bn and adjusted ROCE of 25%. To accomplish this vision, the company will retain its emphasis on the auto segment and also focus on new segments such as Defense, Aerospace, Healthcare, IT, etc.
     
  • We maintain Buy with a TP of Rs115 (Rs87 earlier) based on 20x FY22E EPS (earlier 18x). We expect revenue/earnings CAGRs at 7%/25% for FY20-22E, with average FCF of Rs29bn/year. Retain EW stance in sector EAP.

NEWS ALERT | Jet Airways' resolution professional has shortlisted 4 out of the 12 expressions of interest received: CNBC TV18

-- Only these 4 shortlisted players will be invited to submit bids for the defunct airline

MARKET UPDATE:: Top 5 losers on the BSE at this hour


Top gainers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
I O B 9.54 20.00
TRIDENT 7.15 19.97
SOUTH IND.BANK 6.77 19.82
TEAM LEASE SERV. 1822.10 14.28
ADANI GAS 140.40 12.95
» More on Top Gainers

Sensex, Nifty: Does the market rally have more legs? Here's what charts say

Equity markets continued its journey north on Wednesday, with the benchmark Nifty breaching the 10,000 level for the first time since March 2020. Buying was witnessed across-the-board with financials leading the pack. The sharp upswing in the market has got several traders off guard. Shrugging off grim economic forecasts and rising Covid-19 cases, the benchmark Nifty has climbed 11.4% — from 8,823 on May 18 to 9,826 on June 1 in just nine trading sessions. Interestingly, all the 50 Nifty components have delivered positive gains during this period. READ MORE 


 

MARKET UPDATE :: Sensex extends rally, up over 500 pts


Retailers to gain from easier norms, recovery longer for malls, multiplexes

Led by stocks in the consumer discretionary segment, the BSE 500 posted a 2.5 per cent gain in the trade on Monday. The increase in stock prices of companies in the retail, hotel, quick service restaurant, and multiplex segments was because of the expectations that lockdown relaxations in non-containment zones will boost demand. READ MORE

BUZZING STOCK:: INOX Leisure jumps 5%


Oil prices hit nearly three-month high over hopes for output cuts by OPEC+

Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3% on Tuesday. US West Texas Intermediate crude (WTI) gained 33 cents, or 0.9%, at $37.14, also the highest since March 6. The contract ended the previous session up 3.9%. READ MORE

RIL in talks with Middle Eastern sovereign funds for Jio Platforms: Report

Abu Dhabi’s Mubadala Investment Co. is slated to invest about $1 billion into Jio Platforms Ltd. and an announcement could come as soon as this week, said the news agency, following similar reports last week. Reliance, backed by India’s richest man Mukesh Ambani, is also in discussions with Abu Dhabi Investment Authority and Saudi Arabia’s The Public Investment Fund. READ MORE

Sector watch :: Nifty IT index trades weak in a firm market


Adani Group stocks in focus; Adani Green hits new high, Adani Gas jumps 16%

Adani Power was up 5 per cent at Rs 42.20, ahead of board meeting today to consider the proposal for voluntary delisting of the equity shares of the company. The stock has rallied 16 per cent in the past three days after the Gautam Adani-promoted electric utility company on Friday said its board will meet on Wednesday, June 3, to consider delisting the company from the stock exchanges. READ MORE

Tata Motors up 5% as Co resumes operations across all manufacturing plants

Tata Motors gained 5.12 per cent to Rs 101.45 on the BSE on Wednesday after the auto major said it has resumed operations across all its manufacturing plants in the country. "The company has restarted operations at all plants with Jamshedpur facility also getting approval on May 27," Tata Motors said in a regulatory filing yesterday. READ MORE

IndiGo soars 13% as Q4 earnings beat Street expectation

Shares of InterGlobe Aviation-run IndiGo airline surged as much as 12.6 per cent to Rs 1,064.95 on the BSE on Wednesday after the airline' March quarter numbers beat Street expectations. Besides, analysts' optimism around strong recovery by financial year 2021-22 fuelled buying rally in the stock. At 10:38 am, the stock was trading at Rs 1,025.55, up 8.46 per cent on the BSE, as against 416 points, or 1.23 per cent, gain in the benchmark S&P BSE Sensex at 34,241 level. READ MORE

NEWS ALERT | India May Services PMI comes in at 12.6 vs 5.4 MoM; May Composite PMI at 14.8 vs 7.2

The IHS Markit India Services Business Activity Index recorded 12.6 in May. Although the headline figure rose from April's unprecedented low of 5.4, it remained at a level which, prior to the coronavirus pandemic, was unparalleled in over 14 years of data collection and pointed to an extreme drop in services activity across India.
 
According to panel member reports, output sank sharply due to extended business shutdowns and very weak demand conditions. Latest survey data pointed to a substantial decline in new work intakes at Indian service providers during May. Measures imposed to stem the spread of COVID-19 were a key reason behind the latest drop in sales, as per anecdotal reasons. The rate of decrease was marginally softer than seen in April, but was nonetheless steep by historical comparisons.

HDFC Life Insurance gains 4% after huge block deals

At 09:40 am, around 26.2 million equity shares, representing 1.3 per cent of total equity of HDFC Life Insurance, changed hands through block deals on the BSE, the exchange data shows. The name of buyers and sellers were not ascertained immediately. READ MORE  


US equity funds outperform domestic schemes amid volatile markets

US-oriented equity funds delivered returns of 6.62 per cent in May, while domestic-oriented funds posted weak performance amid volatile markets. In the first half of the month, the markets corrected, with rising cases of Covid-19 and the government’s Rs 20-trillion stimulus package failing to meet market expectations. Mid-cap funds have delivered returns of 1.14 per cent as broader market indices put on a better showing than the 30-share Sensex in May. READ MORE

Most active stocks by volume

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 8.22 6.34
HDFC LIFE INSUR. 512.05 2.50
TRIDENT 7.13 19.63
RELIANCE POWER 2.19 3.30
TATA MOTORS 99.30 2.90
» More on Most Active Volume

Rupee opening

Rupee opens higher at 75.03/$ vs Tuesday's close of 75.36 against the US dollar

NEWS ALERT | PSBs sanction loans worth Rs 10,361.75 crore under emergency credit line guarantee scheme: FM

Britannia surges 7%, hits new high as Q4 nos come in-line with expectations

Shares of Britannia Industries surged over 7 per cent to hit a new high of Rs 3,704.55 apiece on the BSE on Wednesday, a day after the company reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. At 09:25 am, the stock was trading nearly 6.5 per cent higher at Rs 3,657.55 on the BSE. In comparison, the benchmark S&P BSE Sensex was ruling 1.5 per cent higher at 34,325-mark. READ MORE

Tata Motors jumps 4% as Co resumes production at all units


IDBI Bank zooms 57% in 3 days post Q4 nos; m-cap surpasses IndusInd Bank

In the past three trading days, the stock of IDBI Bank has rallied 57 per cent to trade at Rs 31.80 level, up from Rs 20.30 hit on Friday, May 29. Turning the corner, IDBI Bank on Saturday posted a profit of Rs 135 crore for the March quarter (Q4FY20) on account of recoveries from bad loans. It had posted a net loss of Rs 4,918 crore in the corresponding period of last year. READ MORE

BUZZING STOCK:: IDBI Bank continues up move, hits 10% upper circuit


MARKET UPDATE:: Nifty Bank reclaims 21k


Rights issue for RIL closes today; stock trades over 1% higher

>> Reliance Industries Ltd's Rs 53,124 crore rights issue, which has already been oversubscribed, on Tuesday received further bids for 88 million shares, taking the subscription to nearly 130 per cent, according to stock exchange data.


Result Impact | IndiGo rallies 5%


Result Impact | Britannia hits 52-week high

>> Britannia Industries on Tuesday reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. Profit before tax (PBT) stood at Rs 457.27 per cent for Q4 — a marginal rise of 1.6 per cent YoY


Bajaj Finance rallies 5%


Sectoral trends on NSE at open


Financials take lead among Sensex gainers


FIRST TRADE | Nifty reclaims 10,000-mark after 52 trading sessions


FIRST TRADE | Sensex jumps 500 pts at open


Top gainers and losers on S&P BSE Sensex at Pre-open


Market at Pre-open


Market at Pre-open


Stocks to watch: IndiGo, Britannia, RIL, Eris Life, Lupin, Syngene Int'l

Britannia: Britannia Industries on Tuesday reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. Profit before tax (PBT) stood at Rs 457.27 per cent for Q4 — a marginal rise of 1.6 per cent YoY. READ MORE
 
Earnings today: A total of 15 companies including Aurobindo Pharma, BPCL, and Cholamandalam Investment are scheduled to announce their March quarter results today. READ MORE

BROKERAGE VIEW :: Motilal Oswal Financial Services on IndiGo

Maintains 'Neutral; Revised target price: Rs 1,080 from Rs 1,300

>> The company has cash of INR203.8b (INR89.3b in free cash and INR114.5b in restricted cash). However, flying with lower PLFs would result in an influx in variable cost and consequently in further cash erosion than in the abovestated environment.

>> No dividends have been declared to preserve cash and maintain liquidity. The company has also deferred its capital expenditure plans. The total debt (incl. capitalized operating lease liability) was INR227.2b as of 31st Mar’20.

>> We have built in average PLF of 45%, resulting in RPK growth of -48% (YoY) in FY21 and–7% in FY22 to FY20 levels (with 80% PLF)

>> Building on all of the aforementioned factors, we continue to believe that long-term demand and stability in the sector remain a key challenge; thus, we remain cautious on the stock. We value the company at 14x (revised down from 16x earlier) FY22 EPS of INR77 to arrive at a target price of INR1,080 from INR1,300 earlier.

BROKERAGE VIEW :: Motilal Oswal Financial Services on Britannia

View: 'Neutral' 

>> Management has indicated moderate inflation in the prices of key raw materials for the bakery business. Commodity prices at global level witnessed moderation due to low demand on account of lockdown in most parts across the world.

>> After 9 months of moderate growth, BRIT saw growth return in the first 2 months of 4QFY20, which was then hit by COVID-19 and the consequent lockdown in end-Mar’20. This impacted revenue/net profit growth by an est. 7-10%. During this period, BRIT continued to garner market share through its focus on distribution, diligence in marketplace and brand building through focused product campaigns.

BROKERAGE VIEW :: Motilal Oswal Financial Services on HUL

Maintains 'Buy'; Target price: Rs 2,420

>> Immediately following the nationwide lockdown on account of the COVID-19 crisis, operations came to a near standstill; HUVR was able to operate at ~5%
of pre-COVID normative levels. The company was able to gradually improve operations to ~70% in April and has now successfully ramped up its production to 80–90% of normative levels

>> With restrictions on mobility, the lockdown of retail spaces, and fear of loss of income, the impact on discretionary categories such as Hair Care, Skin Care, and Color Cosmetics is more accentuated. While the company is seeing some demand revival in these categories, the exact time these categories would take to fully recover remains to be seen. 

>> The company does not foresee any incremental risk concerning its ability to service financial arrangements and the recoverability of assets, including inventory and receivables.

BROKERAGE VIEW :: Motilal Oswal Financial Services on M&M

Maintains 'Buy' Target price: Rs 576

>> MM has one of the highest exposures to rural markets (~65% of volumes), which are expected to be less impacted by the on-going impact of the COVID19 pandemic. According to our estimates, rural markets should contribute ~62% to revenues, 81% to core PAT and ~70% to SOTP in FY22E.

>> We have slotted MM’s core business into three buckets viz. Tractors, Pick-up UVs and Passenger UVs. Tractors and Pick-up UVs are on strong footing in terms of outlook, MM’s competitive positioning as well as industry-level consolidation. However, MM’s SUVs business is severely challenged and we do not see any respite for MM in this category in the foreseeable future.

>> Despite MM’s recent outperformance, valuations are still at substantial discount to its 5-year average (which captures both pain point of deterioration in UV market share and subsidiaries’ performance). 

>> We are lowering our EPS for FY21/22E by ~22%/4% to factor in the supply- side issues for Tractors and weaker volumes for Autos in FY21. We are now building
in volume growth of 0%/12% for Tractors, -20%/22% for LCVs and -17%/10% for SUVs for FY21/22E.

BROKERAGE VIEW :: Credit Suisse on IndiGo

Maintains 'Outperform'; Revised target price: Rs 1,300 (from Rs 1,500)

>> Results beat their estimates on stronger yields

>> Revises FY21/22 earnings lower by 56%/33%

>> Maintains stance on likely return of profitability in FY22

>> Co has strong balance sheet that ensures survival 

BROKERAGE VIEW :: Morgan Stanley on Motherson Sumi

Maintains 'Overweight'; Target price: Rs 103

>> Says, near-term visibility is low

>> Strong earnings will be led by BS-VI transition, electrification, and plant ramp-up

BROKERAGE VIEW :: CLSA on Motherson Sumi

Maintains 'outperform'; Revised target price: Rs 100 ( from Rs 125)

>> Margin improvement in global biz helped to beat estimates

>> Reduced debt by Rs 1,100 cr via strong investment and working capital control

>> Preliminary plan for 2025 indicates diversification into non-auto biz

Bulk deals on NSE as on Tuesday

Bulk deals on BSE as on Tuesday

FII/FPI & DII trading activity on NSE, BSE and MSEI


NEWS ALERT :: Japan's Services PMI for May comes in at 26.5 vs 21.5 in April

>> Japan’s services sector activity stayed deep in contraction in May, although the pace of decline moderated from the previous month, as restraining measures put in place over the coronavirus outbreak hurt business activity and the jobs market.

>> The index stayed in contraction for the fourth straight month, marking the longest such stretch since a five-month run to September 2012, though it was higher than a preliminary reading of 25.3 released last month.

(As reported by Reuters)

Rupee check

Source: Bloomberg


Oil at 3-month high

>> Oil rose on Wednesday to a near three-month high ahead of the Opec+ meeting on Thursday.

>> Brent crude was up 1.5 per cent, at $40.16 per barrel-mark, the highest since March 6. 

(Via Reuters)

Nifty could reclaim 10k-mark at open

>> At 8:03 am, the index was at 10,067.30 level, up 79.40 points or 0.79 per cent.

Asian stocks gain as stimulus hopes support risk appetite

Source: Reuters


Wall Street closes up on signs of economic rebound

Source: Reuters


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