Nifty to open higher, gain 9 points: Dynamic Levels


The recent upsurge in the market has led Sensex to gain more than 800 points since mid-last week. The BSE Sensex rallied 162 points to end at 33,788 and Nifty rose 48 points to finish at 10,379.

Around 9.16 a.m., the wider Nifty50 of the National Stock Exchange (NSE) inched up by 12.45 points or 0.12 per cent to trade at 10,414.70 points.

The rupee's appreciation against the dollar and widening of bets by investors amid optimism ahead of the earnings season also supported the uptrend, they said. The gauge had risen 774.47 points in the previous three sessions. After opening the session on a muted note, benchmark indices moved higher and closed at nearly four-week highs as investors shrugged fears of a global trade war.

ICICI Bank Ltd dropped as much as 2.2 percent and State Bank of India declined 2.5 percent, heading for their first session of fall in five.

The sectoral indices like IT, Bankex, Capital Goods, Metal, Power, Realty and Technology pushed the sensex up in early trade.

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Globally, Asian markets ended higher.

In the broader markets, mid-cap index firmed up by 0.18 per cent, but small-cap index succumbed to profit-booking and shed 0.02 per cent.

Gainers include ONGC, up 1.47 per cent, TCS 1.31 per cent, Sun Pharma 1.08 per cent and Reliance 0.89 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.35 per cent higher. The Dow advanced 1.8 per cent, the S&P 500 rose 1.7 per cent and Nasdaq added 2.1 per cent overnight after Xi on Tuesday pledged to further open up the economy and promised to cut import tariffs on products including cars.