Published: Thu, October 12, 2017
Sci-tech | By Carrie Guzman

Opening Bell: Positive Forecast; Sensex up 140 points

Opening Bell: Positive Forecast; Sensex up 140 points

The BSE Midcap and Smallcap indices rose 1 percent each on positive market breadth.

The Sensex touched a high of 32,098.46 points and a low of 31,967.54 points in the trade so far.

"Sectorally, except IT and energy, all the sectors of broader market have closed in the negative".

The Indian stock market opened higher led by gains in Axis Bank, Bharti Airtel and Tata Steel. The September quarter earnings season is expected to be subdued due to the impact of the Goods and Services Tax (GST).

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TCS stocks gained about 2 per cent while Reliance Industries stocks climbed 4 per cent ahead of its quarterly results tomorrow.

On the currency front, the rupee strengthened by 13-14 paise to close at 65.14-15 against the United States dollar from its previous close at 65.28.

Foreign portfolio investors (FPIs) kept on offloading shares worth net Rs 107.95 crore yesterday, showed provisional data from exchanges. Coal India, Hindustan Petroleum, and Kotak Mahindra bank lost more than 0.6% each in the opening trade on Thursday morning.

The bounce in the Sensex was also supported by Sun Pharma that gained 2.59 per cent to Rs 539.40 after the company said it has received establishment inspection report (EIR) from the United States health regulator for its Dadra facility.

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