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Sensex opens 100 pts higher, Nifty above 10,450; RIL, ICICI Bank up

Equity benchmarks have witnessed a positive start on Wednesday, with the Sensex rising over 100 points, while the Nifty was above 10,450-mark.

Midcaps were trading in the positive zone after it fell around one percent on Tuesday.

Reliance Industries and ICICI Bank are the top gainers, while Dr Reddy’s Labs, ONGC and Aurobindo Pharma have lost the most.

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 7 paise at 63.55 per dollar versus 63.48 yesterday.

"Rupee will continue its northward journey on the back of sudden FII inflow. Thus trading range for the spot USD-INR will be 63.30-63.60."

The dollar near 3-month low, weighed down by expectations of a slower pace of interest rate increases by the Federal Reserve amid a tepid US Inflation picture.

On the global markets, Asian stocks struck a fresh decade high on Wednesday as risk appetites were whetted by a bevy of upbeat manufacturing surveys that confirmed a synchronised upturn in world growth was well under way.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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