Nifty opens above 7950, Sensex firm; autos & banks in focus -- 1 Dec 2015

Vedanta, Sun Pharma, Wipro, Tata Motors and Hindalco are top gainers while Reliance, HDFC Bank, Bajaj Auto, TCS and SBI are losers.

                                             

The market has opened in green as investors keep a keen eye on RBI credit policy review and November auto sales data. The Sensex is up 50.76 points or 0.2 percent at 26196.43 and the Nifty is up 22.90 points or 0.3 percent at 7958.15. About 527 shares have advanced, 106 shares declined, and 35 shares are unchanged. Vedanta, Sun Pharma, Wipro, Tata Motors and Hindalco are top gainers while Reliance, HDFC Bank, Bajaj Auto, TCS and SBI are losers. The Indian rupee gained in the early trade. It has opened higher by 14 paise at 66.53 per dollar versus 66.67 yesterday. Ashutosh Raina of HDFC Bank said, "The Reserve Bank of India (RBI) is expected to maintain status quo in its policy meeting today, ahead of a potential mid-December Fed rate hike." The dollar gained marginally against major currencies as expectations for further stimulus this week from the European Central Bank drove the euro to its lowest since April. Meanwhile, most Asian peers are higher despite a negative finish from Wall Street overnight. Chinese markets opened in the red after investor sentiment took a hit from private and official November PMI surveys. US stocks closed lower on Monday, weighed by retail results. 

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