Sensex, Nifty open on a high on Monday, Wipro, Lupin early gainers

Sensex and Nifty opened in the green on Monday with BSE hitting a lifetime high of 32,135.91 points in opening trade, Nifty started with a new peak of 9,939.30 points. While a dip was seen in the morning session, by 2.40 PM indices maintained surge with Sensex climbing up by 248.97 points to reach 32,277 and nifty gaining 63.45 points to reach 9,978.70.

The rupee dropped by 11 paise to 64.43 against the US dollars in Monday's opening session thanks to fresh demand from importers for US currency. On Friday, the rupee had closed at 64.32 per dollar. Sensex opened at 0.17 per cent higher than closing points on Friday.

By Monday noon, apart from Pharma and metal, all indices across sectors traded in the green. HDFC stock prices hit a new high Rs 1,725 after stocks lost ground earlier due to asset quality concerns. HDFC stocks recovered immediately after the bank clarified that the rise in asset quality was due to farm loan waiver announced by states in June.

The Monday green was a direct result of International Monetary Fund's predictions of India's GDP growth at 7.2 per cent in 2017. IMF maintained its world economic growth forecast at 3.5 per cent for 2017 and 3.6 per cent for 2018. However, it revised its forecast upwards for Japan, China and other Asian emerging markets.

Among the BSE stocks, Wipro rose by 1.66 per cent to Rs 291.15. Lupin gained 1.67 per cent to Rs 1161.95 and Reliance Industries rose by 1.89 per cent to hit Rs 1,600 mark.

OneIndia News