Indian Share Market Tips, Sensex off to a good start in pre-opening, Nifty above 10,350; Tata Motors in focus
Shares of RIL are trading higher in pre-opening, while oil marketing companies are trading in the green too. Tata Motors is likely to be lower post Q1 results
Market Opens: Equity benchmarks have started the month on a flat note, but the Nifty has hit another record high of 11,371 in the opening minutes. Investors could be watchful of the outcome of RBI MPC’s meeting outcome later in the day
The Sensex is currently higher by 24.41 points or 0.06% at 37630.99, while the Nifty is up 12.40 points or 0.11% at 11368.90. The market breadth is positive as 372 shares advanced, against a decline of 117 shares, while 57 shares are unchanged.
All sectoral indices are trading in the green, with maximum gains seen among metals, PSU banks as well as energy names. The midcap index is also up over half a percent.
Among global markets, Asian shares rose, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today.
Rupee opens: The Indian rupee opened flat at 68.55 per dollar on Wednesday versus 68.54 yesterday.
The dollar-rupee August contract on the NSE was at 68.79 in the previous session. August contract open interest declined 3.67 percent in the previous day, said ICICIdirect.
We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.
Market at pre-open: Equity benchmarks are off to a positive start on Wednesday morning in pre-opening rates, with the Nifty hovering above 11,350-mark. The Sensex is nearing 37,700 as well.
At 09:01 hrs IST, the Sensex is up 90.49 points or 0.24% at 37697.07, and the Nifty up 14.20 points or 0.13% at 11370.70.
Shares of RIL are trading higher, while oil marketing companies are trading in the green too. Tata Motors is likely to be lower post Q1 results.
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