 "Markets open higher on firm global cues")
Markets opened marginally higher on Thursday, amid firm global cues, with software shares leading the gains amid a weakening rupee.
At 9:30AM, the 30-share Sensex was up 126 points at 19,303 and the 50-share Nifty was up 36 points at 5,806.
Fresh capital outflows and sustained dollar demands from importers pushed the rupee again to close at above 60 levels against the dollar. The Reserve Bank of India’s (RBI) intervention in late trading session stemmed further slide of the Indian currency. The currency which closed at Rs 60.22 on Wednesday was trading higher at 60.03 in early deals today.
0.4%, S&P 500 gained 0.1% and Nasdaq ended 0.3% higher.
According to technical experts, the current correction may get arrested in case the Nifty sustains above 5,830. Break of 5,740 can trigger a fresh round of selling and the Nifty may then slide to 5,650-odd levels. On Thursday, the Nifty may seek support around 5,750-5,735, while face resistance around 5,790-5,805.
The BSE IT index was the top gainer among the sectoral indices followed by Power, Capital Goods, Healthcare, FMCG, Realty, Oil and Gas indices up 0.7-1.1% each.
Shares were software exporters were up on the back of weakening rupee. Infosys and TCS were up over 1% each.
Among the index heavyweights, Reliance Ind rebounded after correction in the past few sessions and was up 0.7%.
Other Sensex gainers include, ITC and mortgage lender HDFC and engineering major Larsen & Toubro.
Among other shares, CCL Products (India) has rallied nearly 8% to Rs 324 in opening deals on BSE after its board approved the sub-division of its equity shares of Rs10 each into five equity shares of Rs 2 each. The board also recommended issue of bonus shares in the ratio of one equity share for every one share held by the shareholders, CCL Products said in a regulatory filing.
In the broader market, the BSE Mid-cap and Small-cap indices were up 0.3-0.4% each.
Market breadth was strong with 662 gainers and 249 losers on the BSE.
At 9:30AM, the 30-share Sensex was up 126 points at 19,303 and the 50-share Nifty was up 36 points at 5,806.
Fresh capital outflows and sustained dollar demands from importers pushed the rupee again to close at above 60 levels against the dollar. The Reserve Bank of India’s (RBI) intervention in late trading session stemmed further slide of the Indian currency. The currency which closed at Rs 60.22 on Wednesday was trading higher at 60.03 in early deals today.
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US markets ended marginally higher on Wednesday as investors refrained from taking fresh positions ahead of the Independence Day holiday and jobs data on Friday. The DOw ended up
0.4%, S&P 500 gained 0.1% and Nasdaq ended 0.3% higher.
According to technical experts, the current correction may get arrested in case the Nifty sustains above 5,830. Break of 5,740 can trigger a fresh round of selling and the Nifty may then slide to 5,650-odd levels. On Thursday, the Nifty may seek support around 5,750-5,735, while face resistance around 5,790-5,805.
The BSE IT index was the top gainer among the sectoral indices followed by Power, Capital Goods, Healthcare, FMCG, Realty, Oil and Gas indices up 0.7-1.1% each.
Shares were software exporters were up on the back of weakening rupee. Infosys and TCS were up over 1% each.
Among the index heavyweights, Reliance Ind rebounded after correction in the past few sessions and was up 0.7%.
Other Sensex gainers include, ITC and mortgage lender HDFC and engineering major Larsen & Toubro.
Among other shares, CCL Products (India) has rallied nearly 8% to Rs 324 in opening deals on BSE after its board approved the sub-division of its equity shares of Rs10 each into five equity shares of Rs 2 each. The board also recommended issue of bonus shares in the ratio of one equity share for every one share held by the shareholders, CCL Products said in a regulatory filing.
In the broader market, the BSE Mid-cap and Small-cap indices were up 0.3-0.4% each.
Market breadth was strong with 662 gainers and 249 losers on the BSE.