Indian indices up on robustness in metal stocks
Sensex opend at 33,928.86 points and after that it hit the day's high of 33,975.05 points
After yesterday's fall on concerns over widening fiscal deficit target, Indian indices, led by metal stocks, opened slightly higher today. Helped by Hindustan Copper (7.64%), Hindalco (3.44%) and Vedanta (2.19%) , Nifty metal index gained over 1.70%.
Sensex opend at 33,928.86 points and after that it hit the day's high of 33,975.05 points. Reliance Communications share continued with its rally in the third consecutive day, rising over 12%.
Yesterday Sensex ended in the negative territory, while benchmark Nifty slipped to 10,490.75 points, down 0.39%. Markets fell after a business news channel reported that the government could borrow more than what it has currently budgeted for the remainder of the fiscal year ending March.
However, Sun Pharma (up 6.89%), Tech Mahindra (up 1.59%), DrReddy's (+1.71%) Aurobindo Pharma (0.99%), Wipro (1.75 (up 0.58%) helped contain further fall in the benchmark indices yesterday.
ONGC, NTPC, YES Bank, Reliance Industries and NTPC slipped into the negative territory yesterday.
Asian and global indices were also in the green today.