On optimism over Covid 19 vaccine and US stimulus, after US indices closed at a record high, Indian indices are set to hit new highs. Broader markets outperform in the pre-opening.
Nifty at 9:17 am traded higher by 77 points at 13469 while Sensex gained 0.6% to 45890.
Top gainers on the Nifty are UPL, ITC, HCL Tech, Coal India and Sun Pharma. While losers in early trade include Maruti Suzuki, Titan Company,HDFC Life, Bharti Airtel.
PSB Banks will remain in focus after an outperformance in the previous day's trade with Nifty PSU Bank rallying over 7 percent. Also, banks and financials will be in focus as the SC would continue with its hearing.
Shares of ICICI Bank traded lower after the Bank will offload some stake in ICICI Securities via the OFS route.
Meanwhile, Asian markets buoyed by positive global cues rose 1% on the Japanese Nikkei.
Also, rupee opened slighlty lower in comparison to dollar on strength in Indian equities.