Sensex, Nifty open strong on Mar series; eyes on Eco survey

Tata Power, L&T, Tata Motors, Sesa Sterlite and SBI are top gainers whle NTPC, ITC and TCS are among the losers in the Sensex.

09:15

Moneycontrol Bureau The market has opened March series on a positive note. The Nifty is up 45.65 points at 8729.50. The Sensex is up 202.12 points or 0.7 percent at 28948.77. About 375 shares have advanced, 120 shares declined, and 110 shares are unchanged.

Tata Power, L&T, Tata Motors, Sesa Sterlite and SBI are top gainers whle NTPC, ITC and TCS are among the losers in the Sensex.

The Indian rupee opened lower by 11 paise at 61.86 per dollar on Friday against previous day's closing value of 61.75 a dollar.

The dollar rises to a one-month high against a basket of currencies as US inflation and business orders supported bets the Federal Reserve will raise interest rates in the middle of the year.

Pramit Brahmbhatt of Veracity said, "Reduced FII inflows coupled with profit booking in local equities may put pressure on the rupee to depreciate today. However, gains in Asian equities and some exporter selling may limit losses. The rupee is likely to trade today in a range of 61.30-62.20/dollar."

Globally, US stocks closed narrowly mixed, with stocks near recent highs, as lackluster economic data and oil concerns weighed on investor sentiment. Asian markets are mixed in morning trade as the Japanese index continues its march higher. For the month the Nikkei is up 6.5 percent and today it is holding with mild gains.

European equities gained as investors reacted to a raft of corporate earnings and fresh economic data. Nymex Crude slipped over 5 percent yesterday to USD 48 and Brent too slipped marginally to USD 61. And precious metal gold rose to USD 1210 an ounce.

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