Home / Business / Money / Sensex, Nifty maintain uptrend; Cipla up 3%, Infosys weak

Sensex, Nifty maintain uptrend; Cipla up 3%, Infosys weak

Cipla is up 3 percent followed by Hero, HDFC, Maruti and Tata Power. On the losing side are Dr Reddy’s Labs, Infosys, Tata Motors, Wipro and HUL.

09:15

The News International Team

After hitting record high, the market has once again opened on a strong note Tuesday. The Sensex is up 63.58 points at 26931.13 and the Nifty up 17.30 points at 8045. About 694 shares have advanced, 172 shares declined, and 21 shares are unchanged.

Cipla is up 3 percent followed by Hero, HDFC, Maruti and Tata Power. On the losing side are Dr Reddy’s Labs, Infosys, Tata Motors, Wipro and HUL.

The Indian rupee opened marginally lower at 60.58 per dollar as against previous day’s closing value of 60.52 a dollar.

Ashutosh Raina of HDFC Bank said, “The better than expected GDP number of 5.7 percent came as a pleasant surprise to the markets and was cheered across asset classes. This is coupled with good trade deficit numbers announced yesterday. The USD/INR pair continues to trade in 60-61/dollar range.  The appreciating bias should continue,” he said.

Meanwhile, the euro languishes at one-year lows, following an aimless session overnight with market activity severely hampered by a holiday in the US.

On the macro front, current account deficit for the first quarter came in at 1.7 percent of GDP versus 4.8 percent a year ago. The number is largely in line with expectations but core sector growth slowed down to just 2.7 percent in July.

In commodities, Brent crude prices slipped to 102 dollars a barrel as manufacturing growth faltered in Europe and China at a time of ample supply, although the risk of production setbacks remained high in Libya.

From precious metals space, gold was steady around 1,280 dollars an ounce, after posting a small gain last week. The dollar index was trading near a 13-month high, hurting the metal.

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...