Infosys gained 3 percent but soon fell off the cliff as CFO Rajiv Bansal stepped down. However, the IT major climbed Vedanta is up 6 percent while Hindalco, Tata Steel and Wipro are top gainers. GAIL, Cipla, M&M and HDFC Bank are losers in the Sensex.
The market has opened firm kicked by Infosys Septemer quarter results. The Sensex is up 131.43 points or 0.5 percent at 27210.94 and the Nifty is up 41.80 points or 0.5 percent at 8231.50. About 454 shares have advanced, 121 shares declined, and 35 shares are unchanged. Infosys gained 3 percent but soon fell off the cliff as CFO Rajiv Bansal stepped down. However, the IT major climbed Vedanta is up 6 percent while Hindalco, Tata Steel and Wipro are top gainers. GAIL, Cipla, M&M and HDFC Bank are losers in the Sensex. The Indian rupee has opened lower by 8 paise at 64.82 per dollar against Friday's close of 64.74. Agam Gupta of Standard Chartered said, "There will be some inflows during the course of the day as the limit increase for FII investors into central government and state government bonds is effective from today. We expect a range of 64.60-64.95/dollar for the day." The dollar was at multi-week lows against the euro on expectations for a later interest rate hike. The dollar index is below the 95 mark. Asian stocks outside Australia and Singapore advanced, tracking the slightly stronger lead from Wall Street. Major US averages finished higher on Friday, with the Nasdaq Composite leading gains by notching up 0.4 percent as investors digested dovish signals from the US Federal Reserve minutes. The blue-chip Dow Jones Industrial Average and the S&P 500 ticked up 0.2 and 0.1 percent respectively. Meanwhile, markets in Japan are closed for the Health and Sports Day holiday.
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