Markets have a positive start; Nifty above 8,400

At 9.18am, the Sensex was at 27,701, higher by 132 points or 0.5% and Nifty was at 8,412, up 37 points.

The benchmark indices have started the day in the positive on the back of favourable domestic cues after the Union Cabinet gave a nod to amendments to the GST Constitutional Amendment Bill, approved passage of a new consumer protection and establishment of a  National Investment and Infrastructure Fund worth Rs 20,000 crore. The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street in wake of Fed's optimistic economic projections, and this is also aiding the sentiment back home.

At 9.40am, the Sensex was at 27,725, higher by 161 points or 0.5% and Nifty was at 8,419, up 44 points.

In the broader markets, the midcap and smallcap indices have gained 0.6% each at 11,137 and 11,689 respectively. The BSE market breadth is strong, with 1,180 advancing stocks as against 375 declines.

The markets had snapped a 4-day losing streak on Wednesday, with the Sensex rising by more than 100 points and Nifty ending above the technically crucial 8,350 mark. And while the markets are going strong this morning, the expiration of July F&O contracts could trigger some volatility later in the day.

On the earnings front, ITC, NTPC, Dr Reddy’s Lab, Kotak Mahindra Bank, Bank of Baroda, IDFC, HCC, Glenmark Pharma, Colgate-Palmolive are some of the prominent names which are likely to announce their results today.

RUPEE

The  rupee has opened lower by 5 paise at 63.96 per dollar this morning against a close of 63.91 in the previous session.

GLOBAL MARKETS

Asian shares have gained this morning after the US Federal Reserve kept the interest rates unchanged and indicated that economy and jobs continue to strengthen. Japan's Nikkei is up 1.36% while China’s Shanghai Composite is up 0.5% and Hang Seng has climbed 0.4% .

On Wall Street, U.S. stocks rose broadly on the Fed's optimism and strong corporate earnings with Do Jones and Nasdaq up 0.7% and 0.4% each.

SECTORS AND STOCKS

All the BSE sectoral indices are in the green, with the exception of the consumer durables space. Cipla, Bharti Airtel and HDFC are the top gainers among the Sensex-50 stocks, accompanied by capital goods stocks such as BHEL and L&T.

On the other hand, GAIL and Tata Steel are the top losers on the BSE. ITC has edged lower ahead of its Q1 numbers scheduled during the day.