Market at new 11-month high, Nifty hits 8500; IT underperforms
The market has opened at fresh 11-month high with the Nifty hitting 8500. The 50-share index is up 34.70 points at 8502.60 and the Sensex is up 98.77 points at 27725.46. About 385 shares have advanced, 94 shares declined, and 26 shares are unchanged. Axis Bank, HDFC, Bharti Airtel, Maruti and NTPC are top gainers while Coal India, BHEL, TCS, Infosys and Cipla are losers in the Sensex. The Indian rupee opened marginally lower by 5 paise at 67.17 per dollar on Tuesday versus 67.12 Monday.
Asian markets were broadly higher with shares in Japan leading the region. The Nikkei 225 was up 3.34 percent while Hong Kong’s Hang Seng was about 0.81 percent higher. China’s Shanghai Composite was up around 0.35 percent.
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