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Stock Market Opening News
The market has opened on a strong note Wednesday.
The Sensex is up 66.37 points or 0.2 percent at 29044.39, and the Nifty is up 25.70 points or 0.3 percent at 8968.70.
About 351 shares have advanced, 76 shares declined, and 24 shares are unchanged.
TCS, SBI, Wipro, ICICI Bank and GAIL are top gainers while BHEL, Bharti, HDFC and Reliance are major losers in the Sensex.
The Indian rupee appreciated further, hitting more than four-month high.
The currency has opened at 66.36 a dollar, up 16 paise compared with previous day’s closing value of 66.52 a dollar.
The upside in currency was largely on account of weaker dollar after likely delay in Fed rate hike.
Asian shares opened mixed, shrugging off Wall Street’s higher close on “bad news is good news” as weaker-than-expected US ISM services data lowered the chances the Federal Reserve will hike rates.
Japan’s Nikkei 225 fell 0.76 percent in early Asian trade, as the yen strengthened against the dollar.
A stronger yen is generally seen as negative for Japanese stocks as it makes exports more expensive and reduces overseas earnings when translated back into the home currency.