Tata Steel, Sun Pharma, Hindalco Industries, Hero Motocorp, ICICI Bank, Bank of Baroda and Asian Paints gained 1-3 percent. ITC, NTPC, M&M, ONGC and Cairn India were under pressure.
The market started week on a positive note tracking global cues. The Sensex rose 108.70 points to 25746.81 and the Nifty climbed 34.65 points to 7816.55. Tata Steel, Sun Pharma, Hindalco Industries, Hero Motocorp, ICICI Bank, Bank of Baroda and Asian Paints gained 1-3 percent. ITC, NTPC, M&M, ONGC and Cairn India were under pressure. The Indian rupee has opened flat at 66.70 a dollar on Monday against Friday's closing value. Agam Gupta of Standard Chartered said, "The USD-INR pair should range between 66.60-66.90/dollar today. We could see dollar selling interest from local banks on any upticks to 60.90/dollar." "The demand at lower end of the range should emerge from oil importers," he added. The US dollar gained against the euro after stronger-than-expected US monthly jobs data. Asian markets traded higher following positive lead from the Wall Street. Nikkei, Straits Times and Taiwan Weighted rallied 1-1.5 percent followed by Shanghai Composite and Hang Seng with 0.4 percent upside. Indices in US markets gained close to two percent on Friday on increased certainty of divergent Central Bank policy with a strong job data report supported by increased likelihood of a Fed rate hike in December.
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