1. Sensex, Nifty open higher, ITC up 1.41% leads gains, Wipro down 2.70% loses most

Sensex, Nifty open higher, ITC up 1.41% leads gains, Wipro down 2.70% loses most

Indian benchmark indices opened higher today as most of the Asian markets are trading in positive territory. BSE Sensex opened 0.27% higher at 31,160.47 points, while NSE Nifty, opened 0.18% higher at 9,595.45 points.

By: | Published: June 16, 2017 10:16 AM
At 9:45 am, BSE Sensex was trading 24.96 points or 0.08% higher at 31,100.69 points while the NSE Nifty was up 16.95 points or 0.18% at 9,595.00 points. ITC was leading the gains and was up 1.41% at Rs 306.15 on the BSE, while Wipro was down the most, losing 2.70% at Rs 253.75. (Image: PTI)

Indian benchmark indices opened higher today as most of the Asian markets are trading in positive territory. BSE Sensex opened 84.74 points or 0.27% higher at 31,160.47 points, while NSE Nifty, the broader gauge, opened 17.4 points or 0.18% higher at 9,595.45 points. At 9:45 am, BSE Sensex was trading 24.96 points or 0.08% higher at 31,100.69 points while the NSE Nifty was up 16.95 points or 0.18% at 9,595.00 points. ITC was leading the gains and was up 1.41% at Rs 306.15 on the BSE, while Wipro was down the most, losing 2.70% at Rs 253.75.

Reliance Industries and BP Plc yesterday announced plans to jointly make a fresh investment of Rs 40,000 crore in the KG-D6 block of Krishna Godavari basin. The two companies would also jointly explore opportunities in the entire energy value chain including fuel retailing and renewables with support from the vast technology and telecom infrastructure of Reliance Jio.

Infosys board will set revised growth targets in place of the goal of $20 billion by 2020. The company aims to forge a consensus with its promoters on strategy for future growth even as it faces headwinds.

Bank of England held interest rates steady at 0.25 per cent. However, the unexpectedly tight 5-3 vote did give rise to questions about monetary policy.

Asian stocks traded steady on Friday morning, not disturbed by the fall in the US markets overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, on track to end the week down 0.7 per cent, said a Reuters report. Japan’s Nikkei jumped 0.5 per cent, narrowing its loss for the week to 0.4 per cent.

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US stocks fell yesterday, as NASDAQ led the losses on Wall Street with a 0.5 per cent drop, dragged lower by shares including Apple and Alphabet, which tumbled on bearish analysts’ reports. The S&P500 technology index also declined 0.5 per cent. The broader S&P500 index fell 0.2 per cent and the Dow Jones Industrial Average slipped 0.1 per cent, Reuters reported.

The Dollar continued its gains for the second day as it rose to its highest in more than two weeks after US Fed rate hike. The Dollar Index, which tracks the greenback against six major peers, rose to 97.557, it’s highest since May 30. The US Dollar also hit its highest against the Euro, Swiss Franc and Swedish Crown since May 30. The greenback rose to 110.97 yen, it’s highest against the Japanese currency since June 2.

The rupee lost 15 paise to trade at a fresh two-week low of 64.68 against the dollar in early part today as the American unit strengthened overseas on upbeat data. The rupee today took a hefty knock by plunging 23 paise to a two-week low of 64.53 a dollar after the US Federal Reserve delivered the widely expected rate hike and maintained a hawkish tone going forward. This is the lowest closing for the rupee since May 30, when it had finished at 64.66.

Oil prices dipped early Friday and were not far off six-month lows as an ongoing supply overhang weighed on markets despite an Opec-led effort to cut production and prop up prices. Brent crude futures were down 6 cents, or 0.1 per cent, to $46.86 a barrel, while US WTI crude futures fell 8 cents, or 0.2 per cent, to $44.38 a barrel.

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