Sensex, Nifty open in green; Bharti, Infosys, Maruti gain -- 28 July 2015

ICICI Bank, Bharti Airtel, Infosys, Maruti and Hero are top gainers in the Sensex while Tata Motors, GAIL, M&M, HDFC and Axis Bank are among laggards.

         

The market has opened in green after the severe loss on Monday. The Sensex is up 57.02 points at 27618.40 and the Nifty is up 16.25 points at 8377.25. About 566 shares have advanced, 174 shares declined, and 66 shares are unchanged. ICICI Bank, Bharti Airtel, Infosys, Maruti and Hero are top gainers in the Sensex while Tata Motors, GAIL, M&M, HDFC and Axis Bank are among laggards. The Indian rupee opened marginally higher by 5 paise at 64.11 per dollar on Tuesday against previous close of 64.16. Ashutosh Raina of HDFC Bank said, "The turmoil in the China had ripple effects across global equity markets and prices of key commodities. The outcome of FOMC meeting will be keenly awaited for cues." The US dollar fell nearly 1 percent against major world currencies. The safe-haven yen remained firm in early trade, as investors remained cautious ahead of a two-day US Federal Reserve meeting beginning later this session. Asian market is at multi-week lows amid China volatility and as decline in commodities continues. US and European stocks too closed lower on Monday under pressure from an overnight plunge in the Shanghai Composite amid a lackluster earnings season. The safe-haven yen held firm in early trade, as investors remained cautious ahead of a two-day US Federal Reserve meeting. Crude prices slipped further, with the Nymex trading close to a four-month lows after a stock market sell-off rattled investors, adding to concerns of an oil supply glut. Brent crude slipped below USD 54. Precious metal gold is trading near its 5.5 year lows with expectations for a near-term US interest rate hike seen keeping momentum firmly with the bears.


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