Sensex up over 150 pts, Nifty opens above 7850; metals gain -- 16 Sep 2015

Vedanta, Sun Pharma, Hindalco, Tata Steel and Tata Motors are gainers in the Sensex.

                                   

The market has opened on Wednesday with some strength. The Sensex is up 160.76 points or 0.6 percent at 25866.69 and the Nifty is up 41.15 points or 0.5 percent at 7870.25. About 532 shares have advanced, 110 shares declined, and 20 shares are unchanged. Vedanta, Sun Pharma, Hindalco, Tata Steel and Tata Motors are gainers in the Sensex. The Indian rupee opened lower by 7 paise at 66.43 per dollar against 66.36 Tuesday. Pramit Brahmbhatt of Veracity said, "Investors are expected to trade cautiously ahead of the Fed decision on interest rates. The rupee is expected to trade rangebound to slightly weak taking cues from a strong dollar. We see the range for the rupee between 65.90-66.80/dollar." The dollar gained, as wall street rallied on solid retail sales data that supports the view of a steady US economic expansion. Asian shares advanced early, cheered by an impressive handover from Wall Street. Overnight, major US averages rallied more than 1 percent each as investors eyed some of the final data reports leading into the Federal Reserve's highly- anticipated two-day meeting that kicks off on Wednesday. Analysts remain divided on whether the US central bank will this week lift short-term interest rates for the first time in nine years.

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