Lupin, Hero, Tata Steel, TCS and Axis Bank are top gainers in the Sensex. Among the losers are Wipro, HDFC Bank and Hindalco.
The market has opened bright and shiny on Monday morning. The Sensex is up 141.23 points or 0.5 percent at 27457.40, and the Nifty is up 40.35 points or 0.5 percent at 8265.30. About 511 shares have advanced, 136 shares declined, and 80 shares are unchanged. Lupin, Hero, Tata Steel, TCS and Axis Bank are top gainers in the Sensex. Among the losers are Wipro, HDFC Bank and Hindalco. The Indian rupee has opened flat at 63.55 per dollar and immediately inched up by 5 paise. However, Himanshu Arora, Religare expects USD-INR to trade lower today amid across the board weakness in the dollar against major currencies after US Fed signaled gradual rate hike in its latest meeting held last week. Asian markets were higher in the morning on hopes of a Greek debt deal going through as the Greek Prime Minister Alexis Tsipras has offered a new package of reforms to creditors. Greek Prime Minister Alexis Tsipras made a new offer on a reforms package to foreign creditors on Sunday, signaling eleventh-hour concessions to break a deadlock that has pushed Greece to the brink of bankruptcy. Nikkei was higher helped by a weaker yen. Meanwhile the Kospi hit a six-day high on back of a rally among the blue chips like Samsung electronics and Hyundai motor. The Chinese markets are shut for the dragon boat festival. Meanwhile in the US, stocks closed lower on Friday following the Nasdaq's record as investors eyed developments in the Greece debt negotiations amid quarterly Options expirations. The major indices ended near their lows of the day. The Dow Jones Industrial Average extended losses to close about 100 points lower. Friday marked quadruple witching in which volatility often increases in the last hour of trade due to the expiration of options and futures contracts. Crude prices fell more than 1 percent on Friday as worries over the Greek fiscal crisis, weaker oil products prices and pre-weekend profit taking undercut the market. Brent crude currently trades below USD 63 per barrel. From the precious metal gold prices are little changed at around USD 1200 an ounce led by the US Federal Reserve's caution on an interest rate rise and worries over Greece.
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Shares of Lupin climbed nearly 2 percent in early trade Monday after it entered into 30-share BSE Sensex today. The Bombay Stock Exchange removed Tata Power from its benchmark. The exchange announced this change on May 22, 2015. Since then the drug maker gained 4.6 percent and the private power generation company slipped 5 percent in one month period. Additionally, Adani Power is dropped from the BSE 100 Index today while Aurobindo Pharma and Tata Motors DVR are added in the same index with effect from today. 9:30 am Monsoon update: Stating that the June rainfall is likely to end with a 16 percent surplus over the long-period average, the Indian Meteorological Department, however, is not yet reworking its original forecast that the full-year rainfall for the country is expected to be 88 percent below normal. In an interview Met Additional Director General Bishwajit Mukhopadhyay said that since the quantum of June's rainfall is less, the 16 percent figure is likely to look inflated. He added that the department will release its second forecast - a mid-monsoon update -- in mid July during which it will take a call on whether it should revise its full-year rainfall projection upward.
The market has opened bright and shiny on Monday morning. The Sensex is up 141.23 points or 0.5 percent at 27457.40, and the Nifty is up 40.35 points or 0.5 percent at 8265.30. About 511 shares have advanced, 136 shares declined, and 80 shares are unchanged. Lupin, Hero, Tata Steel, TCS and Axis Bank are top gainers in the Sensex. Among the losers are Wipro, HDFC Bank and Hindalco. The Indian rupee has opened flat at 63.55 per dollar and immediately inched up by 5 paise. However, Himanshu Arora, Religare expects USD-INR to trade lower today amid across the board weakness in the dollar against major currencies after US Fed signaled gradual rate hike in its latest meeting held last week. Asian markets were higher in the morning on hopes of a Greek debt deal going through as the Greek Prime Minister Alexis Tsipras has offered a new package of reforms to creditors. Greek Prime Minister Alexis Tsipras made a new offer on a reforms package to foreign creditors on Sunday, signaling eleventh-hour concessions to break a deadlock that has pushed Greece to the brink of bankruptcy. Nikkei was higher helped by a weaker yen. Meanwhile the Kospi hit a six-day high on back of a rally among the blue chips like Samsung electronics and Hyundai motor. The Chinese markets are shut for the dragon boat festival. Meanwhile in the US, stocks closed lower on Friday following the Nasdaq's record as investors eyed developments in the Greece debt negotiations amid quarterly Options expirations. The major indices ended near their lows of the day. The Dow Jones Industrial Average extended losses to close about 100 points lower. Friday marked quadruple witching in which volatility often increases in the last hour of trade due to the expiration of options and futures contracts. Crude prices fell more than 1 percent on Friday as worries over the Greek fiscal crisis, weaker oil products prices and pre-weekend profit taking undercut the market. Brent crude currently trades below USD 63 per barrel. From the precious metal gold prices are little changed at around USD 1200 an ounce led by the US Federal Reserve's caution on an interest rate rise and worries over Greece.
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