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Nifty hits 8700, Sensex surges over 150 pts; Reliance up 1%

The market has opened higher fuelled by firm global markets. The Sensex is up 94.26 points or 0.3 percent at 28078.63, and the Nifty up 33.95 points or 0.4 percent at 8693.05. About 421 shares have advanced, 94 shares declined, and 29 shares are unchanged.

ICICI Bank, Tata Motors, Reliance, L&T and Adani Ports are top gainers while Bharti Airtel is down.

Reliance Industries will announce its Q2 results today. According to CNBC-TV18 poll, gross refining margin (GRMs) is expected at USD 9.5 per barrel. Yes Bank, Biocon, Syngene International, LIC Housing Finance, Intellect Design Arena, Praj Industries and DB Corp are expected to declare Q2 results today.

The Indian rupee has opened lower at 66.68 a dollar compared with previous day's closing of 66.67 per dollar.

Asian stocks advanced, propelled by strong US earnings and oil prices near a 15-month high, as the third and final US presidential debate before the November 8 election got underway.

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