Markets have come off the intra-day high levels after the Indian rupee touched the record low of 55.09 against the US dollar in early trades. The BSE benchmark index- Sensex is up 85 points at 16,268 and the 50-share Nifty is up 26 points at 4,932 levels. In the opening deals, the Sensex touched the high of 16,367.
Meanwhile, the Asian markets are trading in the green. The Hang Seng is up 168 points at 19,090, Nikkei is up 90 points at 8,724 and the Shanghai is up 11 points at 2,359 levels.
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(Updated at 0930 hours)
Markets have opened higher in trades today tracking recovery in the Indian Rupee and positive global cues. the Sensex has opened at 16,331 up 148 points and the Nifty is up 43 points at 4,948 levels.
The Indian Rupee which closed at an all time low level of 55.03 against US Dollar showcased a recovery and opened at 54.68 levels in trades today.
Meanwhile, the global cues are also positive. The Asian markets are trading higher on expectations that China will undertake further stimulus measures as maintaining expansion in growth a priority. The Hang Seng was up 164 points at 19,085, Nikkei advanced 1% or 85 points to 8718 and the Shanghai was up 0.4% at 2,358 levels.
Overnight the US stocks markets also ended higher snapping its six day losing streak. The Dow Jones industrial average jumped 135 points to 12,504, S&P500 Index jumped 21 points or 1.60% to 1,316 and the Nasdaq rose 68 points or 2.5% to close at 2,847.
Shares of the newly listed social networking website Facebook slipped below its offer price to $34.
Back home, Tata Motors is the top gainer among the Sensex stocks, up nearly 2% at Rs 266. Sterlite Industries, Tata Steel, DLF, Larsen & Toubro, BHEL, TCS and Hindalco have also opened higher, up 1-1.5% each. On the other hand, Sun Pharma is the only loser, trading marginally lower at Rs 593.
Buying is visible across the board. The Capital Goods stocks are continue to witness buying consecutively for the second day. The BSE capital goods index is the top sectoral gainer, up 1.4% or 123 points at 9,011 levels. Consumer durables, metal, realty, bankex, auto, power and oil & gas indices are also trading higher by around 1% each.
Suzlon Energy, Punj Lloyd, Praj Industries, Siemens, Havells India and BEL are the top gainers from the capital goods space.
Among the individual stocks, Thomas Cook is trading higher by 1% at Rs 62 in the opening deals on reports that Canada-based Fairfax Financial Holdings will buy Thomas Cook Group Plc's 77% stake in its India operations for about $150 million.
SKS Microfinance is trading higher by 2.2% at Rs 82 on reports that securitised microfinance loans are getting grades that are better than the ratings assigned to micro lenders selling these portfolios.
The broader markets have also opened on a firm note. The BSE mid-cap index is up 35 points at 5,924 and the small-cap index has advanced 42 points to 6,360.
The overall breadth is positive as 823 stocks are advancing while 245 are declining.
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