ICICI Bank, Tata Motors, Axis Bank, Hero and Hindalco are top gainers while Maruti and Infosys are in red.
The Sensex is up 312.81 points or 1.2 percent at 26533.76 and the Nifty is up 84.95 points or 1 percent at 8035.85. About 946 shares have advanced, 209 shares declined, and 36 shares are unchanged.Tata Motors is up 5 percent while TCS, HDFC, ICICI Bank and L&T are other top gainers in the Sensex. Maruti Suzuki is down 2 percent while Dr Reddy's Labs, ONGC, Coal India and Vedanta are major losers.
It is a strong start of the market in October. The Sensex is up 232.60 points or 0.9 percent at 26453.55 and the Nifty is up 58.65 points or 0.7 percent at 8009.55. About 494 shares have advanced, 84 shares declined, and 28 shares are unchanged. ICICI Bank, Tata Motors, Axis Bank, Hero and Hindalco are top gainers while Maruti and Infosys are in red. The Indian rupee opened at seven week high as it surged 26 paise in the early trade on Monday at 65.25 per dollar against Thursday's close of 65.51. Agam Gupta of StanChart Bank said, "The dollar will open lower than the close of 65.51 due to the extremely weak US jobs data. We expect a range of 65.10-65.50/dollar for the day." The dollar slipped against a basket of currencies after weak US jobs data led traders to pare bets that the Fed was poised to hike interest rates as early as this month. Crude prices recovered after a report showed a fifth weekly decline in the US oil rig count. And precious metal gold rose as jobs data dented expectations the fed will raise interest rates this year. Asian equities kicked off the trading week on a positive note after a weak US employment report on Friday cooled expectations that the Federal Reserve will start raising interest rates soon. September's closely-watched jobs report showed the US economy created 142,000 jobs, far below the expected 203,000. Unemployment held at 5.1 percent while the participation rate plunged to 62.4 percent, according to the Labor Department. Indications of softness in the labour market mean the Fed is unlikely to begin tightening monetary policy soon, analysts say. Fed funds futures are now pricing the first rate hike to come no earlier than March 2016. US stocks closed more than 1 percent higher following the report, with major averages ending the week up more than 1 percent.
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It is a strong start of the market in October. The Sensex is up 232.60 points or 0.9 percent at 26453.55 and the Nifty is up 58.65 points or 0.7 percent at 8009.55. About 494 shares have advanced, 84 shares declined, and 28 shares are unchanged. ICICI Bank, Tata Motors, Axis Bank, Hero and Hindalco are top gainers while Maruti and Infosys are in red. The Indian rupee opened at seven week high as it surged 26 paise in the early trade on Monday at 65.25 per dollar against Thursday's close of 65.51. Agam Gupta of StanChart Bank said, "The dollar will open lower than the close of 65.51 due to the extremely weak US jobs data. We expect a range of 65.10-65.50/dollar for the day." The dollar slipped against a basket of currencies after weak US jobs data led traders to pare bets that the Fed was poised to hike interest rates as early as this month. Crude prices recovered after a report showed a fifth weekly decline in the US oil rig count. And precious metal gold rose as jobs data dented expectations the fed will raise interest rates this year. Asian equities kicked off the trading week on a positive note after a weak US employment report on Friday cooled expectations that the Federal Reserve will start raising interest rates soon. September's closely-watched jobs report showed the US economy created 142,000 jobs, far below the expected 203,000. Unemployment held at 5.1 percent while the participation rate plunged to 62.4 percent, according to the Labor Department. Indications of softness in the labour market mean the Fed is unlikely to begin tightening monetary policy soon, analysts say. Fed funds futures are now pricing the first rate hike to come no earlier than March 2016. US stocks closed more than 1 percent higher following the report, with major averages ending the week up more than 1 percent.
For More Detail Visit---- http://www.allianceresearch.in/
Or Call On -- 0761-4032175, 9993716323
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