Sensex opens flat with positive bias, Nifty regains 15,000; broader markets outperform

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Equity markets corrected last week after having surged more than 11% since the Union Budget. S&P BSE Sensex now sits at 50,889 points while the 50-stock NSE Nifty was below the crucial 15,000 mark. Looking to get back in the groove, benchmark indices will look to recover last week’s losses in the coming trading sessions. On Monday morning, Nifty futures on Singapore Exchange were hinting at a gap-up start for domestic equities. Among Asian peers, Shanghai Composite was down in red, while Hang Seng, TOPIX, Nikkei 225, KOSPI, and KOSDAQ were all trading with gains.

The production-linked incentive (PLI) schemes announced by the government for mobile phones and telecom equipment alone could result in net gains of around Rs 65,000 crore to the government over the next five years. The gains will be on account of incremental GST receipts. Both the schemes are for a five-year period. Here, the government would be giving incentives in the range of 4-6%, on an annual basis, to the companies that qualify for the scheme.

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