Vedanta, Hindalco, Tata Motors, Bajaj Auto and Dr Reddy's Labs are top gainers while Lupin, HDFC, GAIL, ONGC and M&M are among losers in the Sensex. Bharti Airtel is up 1 percent after it announced better-than-expected Q2 results.
The market kickstarted on a fim note but soon turned flat. The Sensex is up 147.33 points or 0.5 percent at 27618.14. The Nifty is up 20.50 points at 8315.95. About 462 shares have advanced, 149 shares declined, and 37 shares are unchanged. Vedanta, Hindalco, Tata Motors, Bajaj Auto and Dr Reddy's Labs are top gainers while Lupin, HDFC, GAIL, ONGC and M&M are among losers in the Sensex. Bharti Airtel is up 1 percent after it announced better-than-expected Q2 results. The Indian rupee opened lower by 17 paise at 65 per dollar against previous close of 64.83. Agam Gupta of Standard Chartered said, "The 'risk on' sentiment from equities will translate into some USD supply from FPIs. Exporters will also be looking to hedge their forward receivables on upticks." Euro slipped, hitting a low against the dollar not seen since early august after ECB Chief Mario Draghi signalled further monetary easing could be on deck for the euro zone. Asia markets opened in green in early morning trade as investors welcome the Chinese Central Bank's (PBoC) interest rate cut for the sixth time in the past 11 months. Japan's Nikkei rallied 1 percent to reclaim the 19,000 mark for the first time in more than two months The US markets ended with solid gains on Friday with the Nasdaq closing at a two-month high post China's rate cuts. Investors also digested a new batch of earnings, including reports from tech giants alphabet, Amazon and Microsoft, all of which beat analysts' expectations. Brent crude is trading around USD 48 per barrel while Nymex declined to USD 44 mark. Precious metal, gold, meanwhile, was trading around USD 1160 an ounce.
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