Sensex, Nifty open with strong bias; FMCG stocks up

The market on Monday opened on a strong note with the Nifty drawing close to 8400 as it traded with a marginal increase of 52.15 points or 0.6 percent at 8380.50.

Meanwhile, the Sensex traded up 179.96 points or 0.7 percent at 27324.87.

Shares such as ONGC, Tata Motors, BHEL, Dr Reddy's and Lupin were among gainers while ITC traded down on the Sensex.

The Indian rupee gained in the early trade as it opened higher by nine paise at 67.23 per dollar versus 67.32 Friday.

Dollar fell against the euro on Friday due to reduced expectations of a US interest-rate hike this year.

According to the market experts, the Rupee is expected to trade with a positive bias and it will continue to take cues from the domestic equity market where we will see optimism prevailing.

Asian markets traded higher, continuing a post-Brexit global recovery, with major indexes in Australia and Japan reversing early losses.

Crude prices maintained a steady movement amid speculation that global policy makers will act to limit the fallout from Brexit.

Dollar fell against the euro on Friday due to reduced expectations of an US interest-rate hike this year. Gold prices trade around 1340 dollars an ounce.