Markets open higher; OMCs gain on RBI steps

Markets opened on a positive note this Thursday on back of buying witnessed in oil marketing companies after the central bank opened a special window to sell dollars to meet the daily dollar requirements of the three public sector oil companies.

At 09:20AM, the 30-share Sensex gained 151 points at 18,148 and the 50-share Nifty added 47points at 5,332 levels.

The Futures and Options expiry of August derivate contracts today may keep market on toes, said  market experts.

“Nifty future for the day, if it sustains above 5350 levels then only some relief rally may be seen towards 5400 levels, whereas if it fails to hold 5280 levels then selling pressure may be continued towards 5200 or below levels,” a report from Anand Rathi Research showed.

According to provisional data, FIIs on Wednesday sold shares worth Rs 1,120 crore, extending their selling spree to an eighth straight day. Domestic institutions, including mutual funds and insurers, net-bought to the tune of Rs 506 crore.

The broader markets were firm with mid-caps and small-caps gaining 0.3-0.7 per cent on the BSE.

The market breadth was positive. Out of 409 stocks traded, 315 stocks advanced while 82 stocks declined on the BSE.


RUPEE

The rupee gained against the dollar today after the Reserve Bank of India announced measures late Wednesday to curb rupee fall through dollar flows.

At 09:20AM, the rupee was trading at Rs 67.18 per dollar on the Interbank Foreign Exchange.

After touching an all-time intra-day low of 68.85, it ended at 68.83 a dollar on Wednesday — a decline of 264 paise from Tuesday’s close of 66.19.


GLOBAL MARKETS

Asia’s benchmark stock index rose from a two-month low as energy shares increased after concern military action against Syria will disrupt global oil supplies fuelled gains in crude prices this week.

Japan’s Nikkei rose 0.5% to 13,402, Singapore’s Straits Times gained 0.7% to 3,025, China’s Shanghai Composite index was down 0.3%  at 2,096 while Hong Kong’s Hang Seng added 0.2 % to 21,5634 today.


STOCK MOVERS

Domestically, among the key sectoral indices, IT, healthcare, power and metal indices gained while consumer durables, oil & gas, banks, realty, PSU leading the drop on the BSE.

The gainers included counters such as Bharti Airtel gaining 2%, ICICI Bank was up 1.8%, BHEL added 1.4%, Larsen & Toubro rose 1.3% on the BSE.

The laggards were Infosys declined 2.2%, Tata Motors fell 0.4%  on the BSE.