The market breadth was strong as around five shares advanced for every share declining on the Bombay Stock Exchange. Dr Reddy's Labs, Hindalco Industries, Tata Motors, ICICI Bank, ONGC, Bank of Baroda, Vedanta and Cairn India rallied 2-5 per-cent while Bharti Airtel and Idea Cellular were in red lines. Click for Share tipsThe INR(rupee) opened high by 8 paise at 68.39 per dollar today as compared to 68.47 on yesterday. Mohan Shenoi of Kotak Mahindra Bank told "Despite better-than-estimated US industrial production data, the next Fed rate lift is unpredictabily to be before June 16."
"Given weak equity markets in India, the USD-INR is assumed to trade today in a range of 68.30-68.60/dollar," he later contributed. The USD weakened as compared the japanese yen after the Federal Reserve released the minutes from its January meeting.
Markets of asia were trading higher with Hang Seng & Nikkei gaining over 2 percent each following a strong end in the US and market of Europe.
Markets of asia were trading higher with Hang Seng & Nikkei gaining over 2 percent each following a strong end in the US and market of Europe.
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