The domestic stock markets have opened on a firm note, after a subdued closing in the previous session. At 9:20 am, the Sensex was at 50,953, higher by 502 points or 0.92 per cent and the Nifty was at 15,102.50, up 140.70 points or 0.90 per cent.
Overnight, the Dow hit a record intra-day high but the big tech stocks that have led Wall Street to scale successive peaks over the past year fell, with the Nasdaq closing down 2.41 per cent. The Nasdaq is now down 10.6 per cent from its February 12 record close, or more than a 10 per cent slide the market considers a correction.
The Dow Jones Industrial Average rose 306.14 points, or 0.97 per cent, to 31,802.44, the S&P 500 lost 20.59 points, or 0.54 per cent, to 3,821.35 and the Nasdaq Composite dropped 310.99 points, or 2.41 per cent, to 12,609.16.
Meanwhile, oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.
Brent climbed as high as $71.38 a barrel in early Asian trade, its highest since Jan. 8, 2020. It settled down $1.12 or 1.6 per cent at $68.24. U.S. West Texas Intermediate (WTI) crude settled down $1.04 or 1.6 per cent at $65.05. The session high was $67.98 a barrel, its highest since October 2018.
On Monday, the BSE Sensex had gained 35.75 points to 50,441.07 and Nifty rose 18.10 points to 14,956.20.