Stock Market

Nifty nears 8200, Sensex firm; Coal India & SBI up, BHEL falls 4%


Chillicious Team

The marlet has opened strong supported by index heavyweights. The Sensex is up 111.59 points or 0.4 percent at 26765.19, and the Nifty is up 35 points or 0.4 percent at 8191.65. About 661 shares have advanced, 281 shares declined, and 35 shares are unchanged.

Coal India, SBI, Tata Steel, Adani Ports and Sun Pharma are top gainers while BHEL, ITC, Asian Paints, L&T and HDFC are losers in the Sensex. 

The Indian rupee opened lower by 18 paise at 67.21 per dollar versus 67.03 Friday.

Himanshu Arora of Religare said, “The rupee is expected to strengthen against the dollar today. The rupee has weakened around 1.5 percent this year, while FIIs have bought USD 2.03 billion from the local equity market and sold USD 1.16 billionn in debt markets.”

The US dollar index hit two-month highs on Friday after US Federal Reserve Chair Janet Yellen left the door open to an interest rate increase in the coming months.

Asian stocks trading mixed, despite futures pointing to a higher open. Over the weekend, a Japanese government source told news media that Prime Minister Shinzo Abe would most likely postpone the consumption tax hike for fear of upsetting the fragile economy.