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Nifty hits 8950, Sensex strong: After closing strong on
Budget day, the market has once again opened firmly on Monday. The Sensex is up
177.98 points or 0.6 percent at 29539.48 and the Nifty is up 52.75 points or
0.6 percent at 8954.60. About 439 shares have advanced, 89 shares declined, and
102 shares are unchanged.
The Indian rupee opened marginally lower at 61.89 per dollar versus 61.83 Friday. The euro trades around fresh one-month lows early in a subdued start to the week, while an interest rate cut in China over the weekend gives commodity currencies only a slight boost.Shares of ITC slipped another 3 percent unable to gulp down the excise duty hike on cigarettes proposed by Finance Minister Arun Jaitley in Budget 2015.
Excise duty on cigarettes is increased by 25 percent for cigarettes of length not exceeding 65 mm and by 15 percent for cigarettes of other lengths. Last year the excise duty hike was at 22 percent. This is the fourth successive year of more than 18 percent hike in duty.
In commodities, Nymex crude trades below the USD 50 per barrel while Brent crude is steady above USD 62 per barrel. From precious metals space, gold prices rise to USD 1215 an ounce but gains are capped given a steady dollar.
The Indian rupee opened marginally lower at 61.89 per dollar versus 61.83 Friday. The euro trades around fresh one-month lows early in a subdued start to the week, while an interest rate cut in China over the weekend gives commodity currencies only a slight boost.Shares of ITC slipped another 3 percent unable to gulp down the excise duty hike on cigarettes proposed by Finance Minister Arun Jaitley in Budget 2015.
Excise duty on cigarettes is increased by 25 percent for cigarettes of length not exceeding 65 mm and by 15 percent for cigarettes of other lengths. Last year the excise duty hike was at 22 percent. This is the fourth successive year of more than 18 percent hike in duty.
In commodities, Nymex crude trades below the USD 50 per barrel while Brent crude is steady above USD 62 per barrel. From precious metals space, gold prices rise to USD 1215 an ounce but gains are capped given a steady dollar.
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