The market has opened marginally higher in early trade Monday led by private banks, auto and pharma stocks. The Sensex gained 84.57 points at 28547.88 and the Nifty rose 14.05 points to 8623.90. About 495 shares have advanced, 159 shares declined, and 75 shares are unchanged on the BSE. Cipla, Hero Motocorp, Bajaj Auto, HDFC Bank, BPCL, NMDC and Idea Cellular gained 0.5-1 percent while ACC, UltraTechCement, Tata Power, Ambuja Cements and HDFC lost 1-3 percent.
The Indian rupee has opened with a marginal loss of 8 paise at 63.55 per dollar today against Friday's closing value of 63.47 a dollar. We expect the USD-INR pair to trade in the range of 63.40-63.60/dollar for the day," he added. Asian markets are moving broadly higher, though Japan and Indonesia are closed for public holidays. Dollar hit a three-month high against a basket of major currencies after solid US inflation and housing data supported expectations for the Federal Reserve to raise interest rates in coming months.
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