Sensex rises with commodity stocks, Asian markets, US and FTSE 100 also recoup

Energy stocks recoup and boost leading indices worldwide while Pfizer approval helps strengthen sentiment of recovery

Stuti Mishra
Tuesday 24 August 2021 06:30
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<p>Oil majors were the biggest gainers on FTSE 100 </p>

Oil majors were the biggest gainers on FTSE 100

India’s Sensex opened at 55,702, up 146 points or 0.2 per cent on Tuesday, helped by positive momentum in Asian markets and recovery in the US, while Nifty was at 16,561, up 65 points or 0.4 per cent, helped by energy and commodity stocks.

Asian stocks rallied on Tuesday after gains on the stateside overnight with energy stocks recouping and the dollar inching higher after a major fall. Japan, China and South Korean indexes jumped more than 1 per cent.

Stocks at Wall Street rallied on Monday with all three major indexes ending with gains and the Nasdaq reaching an all-time closing high helped by a rebound in energy stocks and full FDA approval of Pfizer’s Covid-19 vaccine.

The Dow Jones Industrial Average rose 0.6 per cent, the S&P 500 gained 0.8 per cent and closed just a little below record highs, and the Nasdaq Composite added 1.5 per cent.

London’s FTSE 100 ended higher on Monday helped by energy and mining stocks, which made the index reach above the levels of 7,100 after a major fall last week.

The blue-chip FTSE 100 rose 0.3 [er cent with energy shares and miners leading the gains, both up 2.2 per cent and 1.3% per cent respectively.

Oil majors BP, Royal Dutch Shell were among the top gainers as crude prices rebounded from a seven-day losing streak.

British supermarket group Sainsbury’s jumped 15.4 per cent to the top of the FTSE 100 on reports that private equity companies were circling with a view to possibly launching bids of more than 7 billion pounds.

Additional reporting by agencies

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