Indian equity benchmark Sensex opened at 31,975, and soon rose to cross 32,000-mark on Wednesday morning, tracking positive domestic cues such as the GST revamp and positive earnings expectations. Nifty also opened above the 5 digit figure of 10,000 points.
Rise in the Sensex was mainly boosted by Bharti Airtel, Axis Bank, Reliance Industries and M&M which surged by more than 1% each. Coal India, Lupin, Maruti Suzuki and Kotak Mahindra bank were down by more than 0.5% each.
34 stocks posted advances in the Nifty, with Bharti Airtel, GAIL and Reliance leading the gains, up by more than 2% each. 16 stocks registered declines this morning, with Indiabulls Housing Finance, Maruti Suzuki and Lupin losing more than 0.7% on the Nifty. Notably, shares of Indiabulls Housing Finance were down by more than 1.8% this morning. Dena Bank shares surged by more than 3% to Rs 31.50 after the bank said that it had launched a qualified institutional placement (QIP) of shares to raise up to Rs 1,800 crore from institutional investors.
The Indian rupee opened marginally higher at 65.24 a dollar. Asian currencies were trading mixed, as with China Offshore spot was losing 0.15%, South Korean up 0.12%, while Taiwan dollar was up 0.23% and Thai Baht 0.11%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.315, up 0.03% from its previous close of 93.29.