INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic equity benchmarks Sensex and Nifty opened in the green on Wednesday amid rupee's rise against the US dollar and a dip
in global crude oil prices.
The domestic currency on Wednesday opened 26 paise up at 74.13 against the dollar tracking overnight losses in
the American currency amid a buzz in markets that the RBI and the government may raise dollars from non-resident Indians.
Market also
cheered RBI's announcment that it will inject liquidity of Rs 12,000 crore into the system through purchase of government bonds on
Thursday to meet the festival season demand for funds.
Investors got a leg up from the optimism around corporate earnings for Septemeber
Uttam Galva Steels, Zee Entertainment, Bandhan Bank and Indiabulls Ventures are four BSE-listed firms which will announce their quarterly
results today.
At 9:25 am, the BSE Sensex was 172 points, or 0.50 per cent up at 34,471
The Nifty50 index was 54 points, or 0.53 per cent, up at 10,355
Midcaps and smallcaps were outperforming Sensex at that time, rising up to 1 per cent.
Auto, metal, bank and energy stocks were among the
top contributors to the rally in Sensex.
However, IT and FMCG heavyweights were among top drags.
Hero MotoCorp, Vedanta, Tata Motors, Bharti
Airtel and Bajaj Auto were leading among Sensex gainers.
Infosys, Hindustan Unilever, YES Bank, Wipro, TCS and ITC were among the losers in
the Sensex kitty of stocks
Among the sectoral indices, FMCG, IT and teck were in the red on BSE
Telecom, healthcare, energy, metal and oil gas indices were trading over 1 per cent higher
HEG, Shivalik Rasayan, Ganges Securities, Rishiroop, Goa Carbon, Khaitan (India) and Indo Tech Transformers jumped over 15 per cent on
BSE.
As per Reuters, oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as
Hurricane Michael churned towards Florida
Asian shares were mixed after global stocks hit eight-week lows on Tuesday on worries about global economic growth.
