Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 138.53 points to 73,243.14. Meanwhile, the Nifty was also up by 60.7 points to 22,278.55.
Major gainers and laggards.
From the Sensex pack, NTPC, Tata Steel, Bharti Airtel, ITC, Reliance Industries, Power Grid, State Bank of India, Tata Motors, Bajaj Finserv and Bajaj Finance were the major gainers. HDFC Bank, JSW Steel, UltraTech Cement and Hindustan Unilever were among the laggards.
In Asian markets, Tokyo traded in the positive territory while Shanghai quoted lower. Wall Street ended with gains on Tuesday. Global oil benchmark Brent crude climbed 0.72 per cent to USD 82.96 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,065.52 crore on Tuesday, according to exchange data.
Rupee against dollar
The rupee was trading in a narrow range and appreciated 4 paise to 83.47 against the US dollar in early trade on Wednesday, tracking a positive trend in domestic equities. However, sustained foreign fund outflows weighed on the local unit and restricted the up move.
Forex traders said with foreign investors buying US dollars and the Reserve Bank of India (RBI) selling the greenback, the USD/INR pair is expected to remain range-bound with a bit of a weakness bias.
At the interbank foreign exchange market the local unit moved in a narrow range.It opened at 83.49 against the American currency and touched 83.47 in initial trade, registering a rise of 4 paise from its previous close.
(With PTI inputs)
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