The Intraday market sees a spectacular opening as investors
are building high hopes with Narendra Modi taking oath as new Prime Minister of
India. The Nifty tested 7400, at up 61.65 points at 7428.75 and the Sensex is
up 259.73 points at 24953.08. About 796 shares have advanced, 87 shares
declined, and 29 shares are unchanged.
Sun Pharma is up 3
percent while infrastructure stocks are hogging limelight in early trade. NTPC,
Tata Power, Coal India and L&T are other top gainers in the Sensex.Indian
rupee has opened higher at 58.44 a dollar, up 8 paise compared to Friday's
closing value of 58.52 a dollar.Global cues, meanwhile, are mixed.
US stocks
gained for the third day on Friday, lifting the S&P 500 to a record finish.Asian equities are trading strong with the Bank of Japan minutes likely to be
released today.
In other asset classes, the euro slipped, while the other major currencies got
off to a steady start.
In commodities, Brent Crude held steady near USD 110 per
barrel, supported by conflicts in Libya and Ukraine as well as positive
economic data in the world's top oil consumers. From the precious metals space,
gold prices trade lower, logging a modest weekly loss on Friday.
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