Sensex crosses 50,000, jumps over 1,000 pts, Nifty above 14,800 in pre-open; auto stocks in focus

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Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to open in the green on the first day of the month. Nifty futures were seen trading 228 points or 1.57 per cent higher at 14,752 on Singaporean Exchange on Monday. In the previous session, Sensex crashed over 1,900 points to post its biggest single-day fall in nearly ten months. The total market capitalisation of BSE-listed companies was also eroded by Rs 5.37 lakh crore to Rs 200.81 lakh crore. Asian markets were trading higher in early trade on Monday. Japan’s Nikkei 225 rose 2.07 per cent, while the Topix index gained 1.56 per cent. US stocks ended lower in overnight trade on Friday. The Dow Jones Industrial Average closed 1.5 per cent lower and the S&P 500 lost 0.48 per cent. While the Nasdaq Composite added 0.56 per cent.

Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL) has further increased its stake in the US-based urban transportation technology company SkyTran developing pod taxis. The company on Sunday, in a statement, announced raising its stake to a majority of 54.46 per cent on a fully diluted basis with an investment of $26.76 million.

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