At 9:15 AM, the S&P BSE Sensex is trading at 25,253 up 257 points, while NSE Nifty is trading at 7,812 up 62 points.
At 9:15 AM, the S&P BSE Sensex is trading at 25,253 up 257 points, while NSE Nifty is trading at 7,812 up 62 points.
The Indian rupee opened higher by 12 paise at 67.63/$ against US Dollar on Wednesday as against the previous close of 67.75/$. The rupee opened higher on increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
Skymet has revised higher its forecast for the 2016 southwest monsoon to 109% of the long period average (LPA) from 105% of LPA predicted earlier. On Tuesday, airline stocks declined as a weak rupee heightened concerns about its impact on operating costs. Cement stocks gained on renewed buying. On the political front, on the eve of the government completing two years in office, Minister of Parliamentary Affairs M.Venkaiah Naidu said “After some avoidable disruptions of Parliament and particularly, during the Monsoon and Winter sessions last year, both the Houses have evolved to a new equilibrium i.e balance. Opposition is raising some issues with all the might they can muster but legislative work is going on. I hope this balance will continue to stay in the days ahead.”
L&T, Tata Steel earnings will be in focus. Asian markets are trading higher. Japan's Nikkei 225 was up 1.77%, with shares receiving an additional boost from a relatively weaker yen against the dollar. Shanghai composite up by 0.33%. Oil prices advanced on Wednesday, with global benchmark Brent futures up 1.15% to $49.17.
Growth seems to be picking up in US. At least data suggests that new single-family home sales in the US rose in April and prices hit a record high. US stocks ended higher after a rally in financial and technology shares. The Dow Jones Industrial Average rallied 1.2%, while S&P 500 Index jumped 28.02 points to 2,076.06. The Nasdaq Composite Index surged 95.27 points to 4,861.06.
Domino's Jubilant FoodWorks, Britannia, McDonald's Westlife Development will remain in focus after reports that known carcinogens were used to make majority of the breads, buns and pizza bases sold by these companies in New Delhi. Most of them have issued denials. In a statement, Britannia said it "it does not use Potassium Bromate or Iodate as an ingredient in any of its bread recipes. All Britannia Breads products are in 100% compliance to the existing food safety regulations as stipulated by FSSAI."
Ministry of Civil Aviation expects to place in a few weeks the civil aviation policy before the Cabinet for its approval, according to reports. Civil Aviation Secretary RN Choubey reportedly said that the ministry expects to send the final policy to the Cabinet in the next couple of weeks.
The Indian rupee opened higher by 12 paise at 67.63/$ against US Dollar on Wednesday as against the previous close of 67.75/$. The rupee opened higher on increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
Skymet has revised higher its forecast for the 2016 southwest monsoon to 109% of the long period average (LPA) from 105% of LPA predicted earlier. On Tuesday, airline stocks declined as a weak rupee heightened concerns about its impact on operating costs. Cement stocks gained on renewed buying. On the political front, on the eve of the government completing two years in office, Minister of Parliamentary Affairs M.Venkaiah Naidu said “After some avoidable disruptions of Parliament and particularly, during the Monsoon and Winter sessions last year, both the Houses have evolved to a new equilibrium i.e balance. Opposition is raising some issues with all the might they can muster but legislative work is going on. I hope this balance will continue to stay in the days ahead.”
L&T, Tata Steel earnings will be in focus. Asian markets are trading higher. Japan's Nikkei 225 was up 1.77%, with shares receiving an additional boost from a relatively weaker yen against the dollar. Shanghai composite up by 0.33%. Oil prices advanced on Wednesday, with global benchmark Brent futures up 1.15% to $49.17.
Growth seems to be picking up in US. At least data suggests that new single-family home sales in the US rose in April and prices hit a record high. US stocks ended higher after a rally in financial and technology shares. The Dow Jones Industrial Average rallied 1.2%, while S&P 500 Index jumped 28.02 points to 2,076.06. The Nasdaq Composite Index surged 95.27 points to 4,861.06.
Domino's Jubilant FoodWorks, Britannia, McDonald's Westlife Development will remain in focus after reports that known carcinogens were used to make majority of the breads, buns and pizza bases sold by these companies in New Delhi. Most of them have issued denials. In a statement, Britannia said it "it does not use Potassium Bromate or Iodate as an ingredient in any of its bread recipes. All Britannia Breads products are in 100% compliance to the existing food safety regulations as stipulated by FSSAI."
Ministry of Civil Aviation expects to place in a few weeks the civil aviation policy before the Cabinet for its approval, according to reports. Civil Aviation Secretary RN Choubey reportedly said that the ministry expects to send the final policy to the Cabinet in the next couple of weeks.
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