 "Sensex gains over 300 pts, Ranbaxy tanks 30%")
Benchmark indices are trading firm in the opening deals amid strong global cues, along with capital goods and index heavyweight RIL leading the gains.
By 9:30, the Sensex was higher by 340 points at 20,069 levels and the Nifty surged 98 points at 5,997 levels.
HSBC has downgraded Indian shares to 'underweight' from 'neutral' citing recent rally, downside risks to growth
The outcome of the US Fed meeting, which is widely expected to taper its $85 billion a month bond-buying programme, wholesale price index inflation data and the RBI's monetary policy outlook will determine market direction this week.
The US dollar slid while bonds and shares rallied in Asia on Monday after Lawrence Summers dropped from the race to be head of the Federal Reserve, while progress on Syria also shored up risk appetite.
Investors wagered that US monetary policy would stay easier for longer should the other leading candidate for Fed chair, Janet Yellen, get the job.
Stock futures for the S&P50 mini index climbed 1% to 1,706.25, leading Asian bourses higher.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5%, while South Korea jumped 1.1%.
Back home, in the currency market, the rupee is trading at 62.58 per dollar.
BSE Realty index has surged by nearly 3% followed by counters like Power, Capital Goods, PSU, Auto, Oil & Gas and Metal, all gaining between 1-2%. However, BSE Consumer Durables, IT and FMCG indices have declined between 1-2%.
The main gainers on the Sensex at this hour include ICICI Bank, JSPL, L&T, ONGC, NTPC, HDFC Bank, RIL and M&M, all gaining between 2-3%.
Ranbaxy Laboratories has tanked as much as 35% to Rs 297 in opening deals on BSE on CNBC-TV18 reports that the US Food and Drug Administration (USFDA) issued import alert on the company’s Mohali unit.
Shares of state-owned oil marketing companies such as – HPCL, BPCL and Indian Oil are trading higher by 2% each after these companies increased petrol prices by Rs 1.63 per litre on rising oil rates and falling rupee.
The broader markets are under performing the benchmark indices- BSE Midcap and Smallcap indices are up nearly 1% each.
The market breadth in BSE remains positive with 690 shares advancing and 171 shares declining.
By 9:30, the Sensex was higher by 340 points at 20,069 levels and the Nifty surged 98 points at 5,997 levels.
HSBC has downgraded Indian shares to 'underweight' from 'neutral' citing recent rally, downside risks to growth
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The Wholesale Price Index Inflation data schedule later today will be the trigger for our markets in terms of determining the policy stance of the central bank on September 20 mid-quarter review.
The outcome of the US Fed meeting, which is widely expected to taper its $85 billion a month bond-buying programme, wholesale price index inflation data and the RBI's monetary policy outlook will determine market direction this week.
The US dollar slid while bonds and shares rallied in Asia on Monday after Lawrence Summers dropped from the race to be head of the Federal Reserve, while progress on Syria also shored up risk appetite.
Investors wagered that US monetary policy would stay easier for longer should the other leading candidate for Fed chair, Janet Yellen, get the job.
Stock futures for the S&P50 mini index climbed 1% to 1,706.25, leading Asian bourses higher.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5%, while South Korea jumped 1.1%.
Back home, in the currency market, the rupee is trading at 62.58 per dollar.
BSE Realty index has surged by nearly 3% followed by counters like Power, Capital Goods, PSU, Auto, Oil & Gas and Metal, all gaining between 1-2%. However, BSE Consumer Durables, IT and FMCG indices have declined between 1-2%.
The main gainers on the Sensex at this hour include ICICI Bank, JSPL, L&T, ONGC, NTPC, HDFC Bank, RIL and M&M, all gaining between 2-3%.
Ranbaxy Laboratories has tanked as much as 35% to Rs 297 in opening deals on BSE on CNBC-TV18 reports that the US Food and Drug Administration (USFDA) issued import alert on the company’s Mohali unit.
Shares of state-owned oil marketing companies such as – HPCL, BPCL and Indian Oil are trading higher by 2% each after these companies increased petrol prices by Rs 1.63 per litre on rising oil rates and falling rupee.
The broader markets are under performing the benchmark indices- BSE Midcap and Smallcap indices are up nearly 1% each.
The market breadth in BSE remains positive with 690 shares advancing and 171 shares declining.