Markets open higher on hopes of RBI measures for the falling rupee

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Markets open higher on hopes of RBI measures
Markets opened higher today buoyed by reports that the government along with the Reserve Bank of India will announce measures to boost the falling rupee.

The Sensex was trading at 17072 points, up 97 points over Friday's close. The Nifty was seen trading higher by 31 points.

Among the shares that gained ground today were banking stocks, including the likes of Axis Bank and ICICI Bank. Other stocks that gained in trade today were Sterlite and DLF. Coal India rose sharply on reports that the company has hiked coal prices in select western blocks.

Suzlon too gained ground on reports that the company had sold its unit in China.

Markets in Asia were trading mixed with the Nikkei, Straits and Shanghai Composite all lower, while the Hang Sang was trading higher.

Meanwhile, the rupee gained 45 paise to trade at 56.70 on hopes that the RBI and the government would jointly announce measures today to prevent the rupee from falling further.

Read more about: sensex, nifty, currency
Story first published: Monday, June 25, 2012, 9:36 [IST]
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