Nifty opens above 8050, Sensex up; Cipla, SBI gainers -- 3 Nov 2015

Hindalco, SBI, Cipla, Vedanta and Tata Steel are top gainers in the Sensex. Among the losers are ITC and ONGC.


                                   

The market has opened higher on Tuesday after weakness seen yesterday. The Sensex is up 110.16 points or 0.4 percent at 26669.31 and the Nifty is up 35.15 points or 0.4 percent at 8085.95. About 429 shares have advanced, 98 shares declined, and 23 shares are unchanged. Hindalco, SBI, Cipla, Vedanta and Tata Steel are top gainers in the Sensex. Among the losers are ITC and ONGC. The Indian rupee opened higher by 11 paise at 65.48 per dollar against previous close of 65.59. Ashutosh Raina of HDFC Bank said, "The upcoming US data will have direct impact on the December FOMC decision and can result in increased market volatility. The USD-INR pair is back above the crucial 65.50/dollar level on the back of a strong dollar." The dollar fell against the euro after comments from two members of the European Central Bank's governing council lowered expectations for increasing its bond-purchase program next month. Asian equity markets staged a comeback on Tuesday, with investors encouraged by the upbeat handover from Wall Street. Major US averages climbed nearly 1 percent or more overnight, helped by gains in energy and healthcare counters.

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