Nifty Scales To Above 12000, Sensex At 40862 Points On Global Cues

Indian benchmark indices have opened higher for the eight straight day with Nifty inching higher above 12000 points to 12001.6, while Sensex gained 250 points to 40785 points. This is as the markets expect a broader stimulus from the US to tackle the coronavirus pandemic fall-out.

Nifty Bank after RBI's October monetary policy statement on Friday still continues to trade higher by 1.09%. This is as the banks appealed to the SC that it should allow accounts to be classified as NPA as any extension on the issue shall be detrimental for the banks interest.

Wipro ahead of its results today traded higher close to 1%. On Friday, the IT behemoth gained 4 percent at Rs. 374.10. Nifty IT has been the star performer with gains of over 10 percent in the last seven day's run-up.

Infosys also rallied to its fresh high ahead of its second quarterly announcements due later this week.

Vedanta delisting which has failed has sent the stock crashing 10 percent in the pre-opening.

So, far FPIs have been investors in the Indian equities market.

Rupee on Friday (October 9, 2020) closed at 73.13 and yield on 10-year bonds was last at 5.939 percent.

At the time of writing this report Asian indices was trading mixed with Nikkei trading lower by 0.32 percent, South Korea's Kospi up and Singapore's Straits Times also up.

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