The market opens in green with strong Asian cues. The Sensex is up 37.47 points at 27713.51, and the Nifty is up 9.30 points at 8387.05. About 521 shares have advanced, 144 shares declined, and 74 shares are unchanged. Sun Pharma is up 1.5 percent while Dr Reddy's Labs, SBI, Axis Bank and Bajaj Auto are top gainers. Dragged by weak earnings, Wipro is down 4 percent. Among other laggards are Hindalco, GAIL, Bharti Airtel and Sesa Sterlite. The Indian rupee has opened flat at 62.81 per dollar against previous day's closing value of 62.85 a dollar.
The dollar is mixed against major currencies, with the euro pivoting to modest gains against the greenback after euro zone finance ministers moved away from fixing a deadline for Greece to come up with fiscal reforms. "We expect the rupee to appreciate backed by the strength we expect to see in local equities today. The USD-INR pair is expected to trade in the range of 62.30-63.30/dollar." US markets closed mixed on the back of lackluster earnings. European markets ended flat but Asia is positive in morning trade with Japan's Nikkei reclaiming the psychologically-important 20,000 mark. Brent crude slipped below USD 62 dollars per barrel on anticipation of another weekly build in US crude stockpiles. Gold held steady as the US dollar turned lower and bolstered bullion's appeal.
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