Sensex rises 100 pts, Nifty opens above 9650; RIL leads
Equity benchmarks rebounded in opening trade Thursday, with the Nifty reclaiming 9650 level following positive Asian cues.
The 30-share BSE Sensex was up 109.69 points at 31,393.33 and the 50-share NSE Nifty gained 30.25 points at 9,663.85, backed by Reliance Industries.
Reliance Industries, Tata Motors, Tata Motors DVR, HDFC, Asian Paints, Ambuja Cements and Aurobindo Pharma gained 1-1.5 percent while HUL, ONGC, Wipro, Lupin, HDFC Bank, GAIL and Tata Power were under pressure.
Among midcaps, Amtek Auto, Metalyst Forging, Prism Cement, Jaiprakash Assoicates, IDFC, Jaypee Infra, Punj Lloyd, Bhushan Steel, Federal Bank, JM Financial, Geojit Financial and Fortis Healthcare gained 2-9 percent while Videocon Industries was locked at 5 percent lower circuit.
The Indian rupee opened flat at 64.53 per dollar against previous close of 64.52.
Next trigger for rupee appears to be the pace and quality of GST implementation.
He expects the USD-INR pair to trade in a range of 64.40-64.70/dollar for the day.
The minutes of the MPC June policy meeting has raised expectations of monetary easing in subsequent policy reviews.
Asian markets were cautiously higher as oil prices rose slightly after hitting a ten-month low overnight.
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