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Sensex, Nifty open higher on firm global cues; Tata Motors surges 3%

Share Source By

Dion Global

04 Jan 2019

Indian benchmark indices opened higher on Friday despite a rout on Wall Street after Apple Inc cut its revenue forecast for the first time in nearly 12 years, blaming weaker iPhone sales in China. US oil prices fell on Friday after the United States showed signs of following Asia into an economic slowdown, although crude supply withdrawals by producer club OPEC prevented prices from dropping even further. The rupee opened 24 paise higher at 69.96 against the US dollar on Friday amid mixed Asian cues and decline in crude oil prices. Among sectors, automobiles, banks and infrastructure names trading in the green. The shares of Tata Motors rose over 3 percent on Friday morning as investors cheered good US sales data for JLR. The total JLR US sales rose 24 percent at 14,079 units against 11,394 units last year. The share price of Torrent Power gained 1.6 percent in the early trade on Friday as company received LoI from MSEDCL.

At 9:27 hours, the BSE SENSEX was trading at 35640.73 up by 127.02 points or by 0.36 per cent and then NSE Nifty was at 10721.5 up by 49.25 points or by 0.46 per cent.

The top gainers of the BSE Sensex were Tata Motors Ltd. (Rs. 171.25,+3.04%), Tata Motors Ltd. (Rs. 91.60,+2.69%), Bharti Airtel Ltd. (Rs. 317.65,+1.44%), NTPC Ltd. (Rs. 145.25,+1.29%), Axis Bank Ltd. (Rs. 614.20,+1.03%). The top losers of the BSE Sensex were ICICI Bank Ltd. (Rs. 360.00,-0.89%), HCL Technologies Ltd. (Rs. 942.40,-0.59%), Tata Consultancy Services Ltd. (Rs. 1887.05,-0.50%), Reliance Industries Ltd. (Rs. 1088.75,-0.27%).

Sectorally, BSE Auto index was at 20008.72 up by 198.19 points or by 1%. Tata Motors Ltd. (Rs. 171.30,+3.07%), Motherson Sumi Systems Ltd. (Rs. 164.70,+2.11%), Eicher Motors Ltd. (Rs. 20452.60,+0.98%), Cummins India Ltd. (Rs. 840.00,+0.89%), Bosch Ltd. (Rs. 19424.70,+0.89%). On the flip side, BSE IT index was at 14075.01 down by 18.73 points or by 0.13%. 8K Miles Software Services Ltd. (Rs. 131.70,-1.86%), Rolta India Ltd. (Rs. 7.80,-1.52%), Persistent Systems Ltd. (Rs. 602.90,-1.47%), Kellton Tech Solutions Ltd. (Rs. 46.05,-1.07%), Majesco Ltd. (Rs. 500.85,-1.03%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1257 , shares advanced were 825 while 376 shares declined and 56 were unchanged.