Sensex Soars Over 400 Points, Led By Information Technology, Auto Stocks

Asian stocks have opened higher after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.

The domestic stock markets have begun FY22 on a strong note, post the 1 per cent decline in the previous session, tracking positive global cues. At 9:20 am, the BSE Sensex was trading at 49,921.75, stronger by 408.95 points or 0.81 per cent and the NSE Nifty was at 14,809.10, up 121.55 points or 0.81 per cent. The BSE Midcap index and BSE Smallcaap index were also trading with gains of 0.7 per cent and 1 per cent respectively. Asian stocks have opened higher on Thursday after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan. The S&P 500 and Nasdaq rose on Wednesday, boosted by gains in technology shares, and the three major Wall Street indexes registered their fourth straight quarterly rise as investors positioned themselves for President Joe Biden's massive infrastructure plan. On the economy front, the combined output of the eight core sector industries fell at the fastest pace in 6-months, contracting 4.6 per cent in February, from a year ago, confirming fears that a recovery in industrial growth would be slower than expected.