After a flat opening, the intraday market surged within a
minute. The Sensex is up 224.46 points at 23218.69, and the Nifty gains 60.05
points at 6918.85. About 530 shares have advanced, 139 shares declined, and 25
shares are unchanged. ONGC is up 3 percent while Axis Bank and SBI gain 2
percent each.
The Indian rupee opened higher by 6 paise at 59.98 per dollar
versus 60.04 Friday.The euro started the week on a steadier footing after two
straight sessions of steep losses, but should stay under pressure amid the
persistent threat of policy action from the European Central Bank.
In commodities, US Crude was rangebound as the market
balanced support from a draw down in domestic crude stockpiles against
technical sell points that have kept oil from rallying higher, while Brent was
lower as traders awaited developments in the Ukraine crisis.
From precious
metals space, gold settled slightly lower, logging its second straight weekly
loss as the dollar took support from euro weakness and traders awaited further
news on Ukraine.
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