The domestic stock markets have rebounded around 1 percent, post the nearly 2 percent  (stock market futures) correction witnessed in the previous session, on the back of value buying at lower levels. At 9:18 am, the BSE Sensex was at 48,369.45, higher by 441.95 points or 0.92 percent and the NSE Nifty was at 14,503.55 points, up 143.65 points or 0.96 percent.


The broader markets are outperforming their largecap counterparts, with the BSE Midcap index and BSE Smallcap index gaining 1.7 percent and 1.5 percent respectively. All the BSE sectoral indices are trading in the green, with the exception of the IT space.

Asian markets were mixed in the morning of April 20 as investors await the release of China's latest benchmark lending rate. Stocks in Japan led losses among the  (stock market futures)  region's major markets, with the Nikkei 225 falling 1.31 percent, while the Topix index shed 1.22 percent. South Korea's Kospi gained 0.11 percent, while the S&P/ASX 200 in Australia declined 0.14 percent.

U.S. stocks closed lower on Monday, slipping from last week's record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc shares fell after a fatal car crash. The Dow Jones fell 0.36 percent, the S&P 500 lost 0.53 percent and Nasdaq Composite dropped 0.98 percent.

Meanwhile, oil prices edged higher on Monday supported by a weaker U.S. dollar, but gains were capped by concerns about the impact on demand from rising coronavirus cases in India.

Select financial and auto stocks are witnessing buying interest this morning. Bajaj Finance, Bajaj Finserv, IndusInd Bank and HDFC Life have gained between 2.3 per cent and 3.5 percent on the BSE. In the auto space, M&M, Bajaj Auto and Maruti Suzuki have gained 2-3 percent each on the BSE.