Stock Market

Sensex, Nifty open marginally higher; GAIL, Hero early gainers


Sensex, Nifty open marginally higher; GAIL, Hero early gainers

Chillicious Team

After few days of struggle, the market has opened in green on Tuesday. The Sensex is up 79.22 points or 0.3 percent at 25516.19, and the Nifty is up 18.90 points or 0.2 percent at 7824.80. About 396 shares have advanced, 105 shares declined, and 35 shares are unchanged.

GAIL, Hero MotoCorp, Tata Motors, Adani Ports and Hindalco are top gainers while Dr Reddy’s Labs, ICICI Bank, HUL, Bharti and Sun Pharma are losers in the Sensex.

The Indian rupee opened higher by 9 paise at 66.35 per dollar on Tuesday against previous close of 66.44.

Ashutosh Raina of HDFC Bank said, “A weakening USD, with dollar index touching 92.54 levels, fully retracing the rally since China FX move last year, have steadily boosted global stock markets and resulted in return of some risk-on sentiment.”

The yen held steady at around 106 per dollar, close to its strongest level since October 2014, meanwhile the euro rise to 1.15 against the dollar.

Asian stocks turned higher after a positive lead from Wall Street overnight, with Australia’s shares shaking off early losses. Japan’s markets are closed Tuesday due to the Constitution Day holiday. The Nikkei 225 finished down 3.11 percent on Monday, weighed by a surge in the yen against the dollar.

US stocks rose, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals.

The Nasdaq snapped a seven-session losing streak, though Apple fell for an eighth straight session, its longest run of losses since mid-1998.