Market Live:
Sensex gains, Nifty above 10100; Reliance up 3%, pharma in focus
After two consecutive sessions of positive trade, benchmark indices
opened on a flat note.
Adani Transmission, Tata Power and Tata Motors were the top
gainers on both indices, while Videocon, IPCA Labs, L&T and Aurobindo
Pharma lost the most.
The Indian rupee opened higher by 6 paise at 63.98 per dollar on
Wednesday against the level of 64.04 on Tuesday.
The dollar extended its sharp rally against the yen, although it was
capped against the euro with a potentially supportive spike in US yields
neutralized by a similar move by their German counterparts.
Meanwhile, the pound hovered within distance of a one-year high after a
robust UK inflation report added pressure on the Bank Of England to do more to
support the currency.
Among global markets, Asian shares inched up to a 10-year high on
Wednesday, cheered by record highs on Wall Street, while the dollar's rise
against the yen helped boost Japanese shares.
The major Wall Street indexes hit record closing highs on Tuesday, with
financial stocks leading the charge, but gains were stunted by a decline in
Apple Inc shares after it unveiled its latest line of iPhones.
In case of commodities, Gold prices held steady on Wednesday as the
dollar remained firm, with safe-haven demand for the metal buoyed after U.S.
President Donald Trump's latest comments on tensions over North Korea.
Oil prices were mixed early on Wednesday, but largely held on to gains in
the previous session after OPEC said it expected higher demand for its crude
next year.
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