Nifty Opens Higher For Second Day, Shipping Corporation Up 17%

After the US stocks in overnight trade recorded the best gains in nine months, Indian indices opened higher for the second straight day. At the open Nifty was up by 90 points and traded last at 14855, while Sensex was 50091.

Nifty Opens Higher For Second Day, Shipping Corporation Up 17%

Other strong macros such as the decline in oil prices as well as strong GST data with GST tax collection again topping Rs. 1 trillion mark will weigh positively for the street.

Shipping Corporation of India shall be in focus after its divestment plans are moving further as the US-based Safesea Group and Bain Capital-backed ship operator JM Baxi & Co have submitted expressions of interest (EoIs) to participate in the privatisation process of Shipping Corporation of India.

BPCL board approved sale of entire stake in Numaligarh Refinery for Rs 9,875 crore. The stake in the refinery shall be bought by Oil India, Engineers India and Government of Assam.

Meanwhile, as investors' appetite for riskier assets improved, Asian indices at the time of writing this copy was trading mixed with Japan's Nikkei weak by 0.37 percent.