Nifty hits 8400, Sensex in green; Infosys, ONGC up ahead of Q3
New Delhi [India], Jan 12 : The market on Thursday opened higher with the Nifty nearing 8400 after US President-elect Donald Trump's speech did not give any specific policy details.
The Nifty traded up 10.35 points or 0.1 percent at 8391, while the Sensex traded up 49.61 points or 0.2 percent at 27190.02.
Shares such as Infosys, ONGC, Adani Ports, Tata Motors and Hero MotoCorp are top amongst the gainers while Dr Reddy's Labs, Sun Pharma, Lupin, Cipla and ITC are losers in the Sensex.
The Indian rupee gained in the early trade. It opened higher by 17 paise at 68.15 per dollar versus 68.32 Wednesday.
According to the market experts, "President-elect Trump's press conference lacked details on economy resulting in dollar giving up some of its gains. Asian economies are struggling with the threat of greater US protectionism."
The dollar index weakened to 101 mark. Asian shares traded mixed following a choppy session in the US with stocks ending higher after President-elect Donald Trump held a raucous and freewheeling press conference that analysts said was sparse on economic policy details.
On the other hand, the Japanese benchmark Nikkei 225 dropped 0.91 percent, as the yen strengthened against the dollar.
A stronger yen is generally bad news for Japanese companies as it makes exports more expensive and lowers repatriated profits earned overseas.
Over at Wall Street, the Dow Jones industrial average finished up 0.5 percent to 19,954.28, while the S&P 500 closed 0.28 percent higher at 2,275.32.
The Nasdaq composite added 0.21 percent to close at 5,563.65. (ANI)