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    Sensex, Nifty open higher on positive global cues; metal stocks, Tata Motors rise

    Sensex, Nifty open higher on positive global cues; metal stocks, Tata Motors rise

    Sensex, Nifty open higher on positive global cues; metal stocks, Tata Motors rise
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    By Ajay Vaishnav   IST (Published)

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    The 30-share S&P BSE Sensex jumped above 35,835, rising by 0.50 percent, or 177.24 points, while the NSE Nifty 50 rose 65.65 points, or 0.61 percent, to 10,838.30 at 9.15am.

    Indian markets opened higher on Monday with both benchmark indexes gaining over half a percent on positive global sentiments and ahead of earnings seasons as well as macroeconomic data indicators on industrial output and inflation.
    The 30-share S&P BSE Sensex jumped above 35,835, rising by 0.50 percent, or 177.24 points, while the NSE Nifty 50 rose 65.65 points, or 0.61 percent, to 10,838.30 at 9.15am.
    On Friday, the Nifty had closed at 10,772.65 points, up 58.35 points or 0.54 percent, from its previous close, while the Sensex rose by 234.38 points or 0.66 percent to close at 35,657.86 points on a weekly basis.
    HPCL, Hero MotoCorp, Tata Motors, Grasim, TCS are early gainers on the NSE, while shares of Cipla, Tech Mahindra, Bharti Infratel, Sun Pharma, Dr Reddy declined.
    On the BSE, Vedanta, Tata Steel, Bajaj Auto, ICICI Bank, Reliance, Yes Bank, Tata Motors advanced, while shares of TCS, Infosys, Hero MotoCorp, Wipro declined on the 30-share index.
    The rupee opened stronger on Monday at 68.57 against the US dollar after its Friday’s close of 68.87. On a weekly basis, the Indian rupee closed at 68.88, weaker by 41 paise from its previous close of 68.47 per greenback. The home currency, however, is expected to stay under pressure as the US dollar strengthens, oil prices remain volatile and overall weaker sentiment.
    Asian shares advanced on Monday despite US-China trade war concerns, extending Friday's gains. Japan's Nikkei advanced nearly 300 points or 1.34 percent, while Hong Kong's Hang Seng was trading higher by 424 points or 1.50 percent at 9.45 am.
    Markets elsewhere in Asia and Australia edged higher. The focus this week would be on Chinese data for June covering inflation, new loans and international trade. The United States also releases inflation figures, while the Bank of Canada might well hike rates on Wednesday.
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