Sensex, Nifty, Midcap jump over 1%; Tata Motors zooms, DRL down
The market has opened higher following global trends. The Sensex is up 235.23 points or 0.9 percent at 26472.10 and the Nifty up 74.10 points or 0.9 percent at 8176.15. About 810 shares have advanced, 139 shares declined, and 23 shares are unchanged.
Tata Steel, Maruti, Tata Motors, Adani Ports and SBI are top gainers while Dr Reddy's and Sun Pharma are losers in the Sensex. The Indian rupee opened higher by 10 paise at 67.53 per dollar versus previous close 67.63.
Asian shares hopped higher after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.
Shares of beleaguered Tata Steel rose over 3 percent intraday on Thursday as it has firmed up plans for a strong hold position in UK plant. Tata Steel has pledged to stay in Britain with a 10-year commitment to a one-billion-pound investment plan as part of crucial talks with steelworkers unions to save thousands of jobs in the UK. The move is also seen as favourable for Tata Steel inching close to merge its European assets with Germany’s Thyssenkrupp.
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