Nifty reclaims 8300, Sensex climbs; IT stocks sulk on visa issue
The market has opened with strong gains with the Nifty nearing 8300. The 50-share index is up 16.95 points or 0.2 percent at 8290.75 and the Sensex is up 58.43 points or 0.22% at 26936.67. About 595 shares have advanced, 145 shares declined, and 380 shares are unchanged.
GAIL, Sun Pharma, Hero MotoCorp, HDFC Bank and NTPC are top gainers while TCS, Wipro, Infosys, BHEL and Reliance are losers in the Sensex.
The Indian rupee has strengthened further in early trade Friday. It has opened at 67.85 a dollar, up 11 paise compared with 67.96 a dollar in previous session.
Bhaskar Panda of HDFC Bank says economic data released in the US was better than expected but the Dollar index is still subdued.
The dollar retreated to the 101 handle against a basket of currencies, from levels above 103.60 reached earlier in the week.
Asian markets traded mixed, with Japanese automakers coming under pressure following a tweet by President-elect Donald Trump directed at Toyota, as well as due to a stronger yen.