Opening Bell – Nifty opens above 9630, Sensex over 31200, M&M top Nifty gainer

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At 9:15 AM, the BSE Sensex opened lower by 63 points at 31222, while the Nifty50 opened lower by 12 points at 9636 mark.

M&M is the top Nifty gainer and ONGC is the top Nifty loser in the morning hours. 

There are 886 advances, 534 declines and 476 unchanged stocks on NSE reflecting some positive bias floating in the market.

Now, going forward, Nifty50 needs to hold above the levels of 9,640-9,650 to extend its up move towards the levels of 9,680-9,700. On the downside, the support for Nifty50 is placed at the levels of 9,550 and 9,505.

The US stocks closed with marginal loss on Tuesday, snapping a long winning streak as weakness emerged in the energy and banking stocks. The Dow Jones Industrial Average shed 51 points to finish at 21,029. The S&P 500 index shed 3 points to close at 2,413. The Nasdaq Composite Index closed down 7 points at 6,203.

Asian markets were trading mixed on Wednesday. Japan’s Nikkei 225 has slipped 20 points, whereas Hong Kong’s Hang Seng has surged 79 points and China Shanghai Composite has advanced 29 points.

The rupee opened at 64.55 per US dollar higher by 11 paise. On Tuesday, the rupee weakened 16 paise to close at 64.66 a dollar due to sustained demand for the US currency from banks and importers.

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