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Opening Bell: Sensex, Nifty start higher on strong global cues; RIL up ahead of Q1 results

Opening Bell: Sensex, Nifty start higher on strong global cues; RIL up ahead of Q1 results

Opening Bell: Sensex, Nifty start higher on strong global cues; RIL up ahead of Q1 results
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By Ajay Vaishnav  Jul 19, 2019 9:59:33 AM IST (Published)

The BSE Sensex rose 118.54 points, or 0.30 percent, to trade at 39,016.

The Indian market started on a positive note on Friday tracking largely strong global cues, particularly after Federal Reserve officials raised hopes of monetary policy easing.

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However, at home, the government not rolling back higher surcharge on super-rich may continue to weigh on equities although finance minister Nirmala Sitharaman
has come up with an option to bypass it by structuring FPIs as companies.
The BSE Sensex rose 118.54 points, or 0.30 percent, to trade at 39,016 in the initial tick. The Nifty50 also started higher by 36.60 points, or 0.32 percent, trading at 11,633.50.
The Nifty MidCap index outperformed, rising half a percent.
The Nifty Bank rose 0.27 percent. BSE Telecom, metal and capital goods were other major notable advancing sectors, while Nifty IT was in the red.
Among Nifty gainers, UltraTech Cement surged after its peer ACC reported better-than-expected earnings. Titan, Hindalco, NTPC and Coal India were other major gainers, rising between 1 and 1.5 percent.
Maruti Suzuki, HDFC, Indian Oil Corp, Infosys and Wipro were major laggards.
Shares of Reliance Industries traded marginally up ahead of the oil-to-telecom-retail conglomerate's first-quarter results later in the day.
Meanwhile, the rupee opened higher against the US dollar on Friday, snapping a 3-day fall, on the back of sluggish greenback. The home currency started at 68.77 after its Thursday's close of 68.97.
In debt markets, the yields on the 10-year government bonds were up 0.61 percent to 6.38 percent from its previous close of 6.35 percent. Bond yields and prices move in opposite directions.
 
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