Alliance Research Nifty opens above 7850, Sensex up over 150 pts; Hero gains 19 Nov 2015

Hero MotoCorp, Maruti, ICICI Bank, Bajaj Auto and Vedanta are top gainers in the Sensex. Among the losers are GAIL and M&M.

Online PR News – 20-November-2015 – jabalpur – The market has opened higher after a sharp slide yesterday. The Sensex is up 165.64 points or 0.6 percent at 25648.16 and the Nifty is up 48.50 points or 0.6 percent at 7780.30. About 658 shares have advanced, 89 shares declined, and 24 shares are unchanged. Hero MotoCorp, Maruti, ICICI Bank, Bajaj Auto and Vedanta are top gainers in the Sensex. Among the losers are GAIL and M&M. The Indian rupee has opened higher in early trade. It has gained 19 paise at 66.10 per dollar versus 66.29 Wednesday. Mohan Shenoi, Kotak Mahindra Bank says minutes of the October FOMC meeting clearly indicate that Fed will commence the rate hiking cycle in December. Since the minutes were in-line with market expectations further dollar strength against major currencies was limited, he adds. The dollar hit a seven-month peak against a currency basket after minutes of the last Fed policy meeting suggested that a December rate increase was on the cards. Asian equities opened higher after US markets reacted positively to the release of Federal Reserve's October meeting minutes that signaled a likely interest rate hike in December. US markets all ended in positive territory, with the Nasdaq Composite outperforming to close 1.79 percent or 89.19 points higher. The Dow Jones Industrial Average closed 247.66 points or 1.42 percent higher while the S&P 500 finished 1.62 percent or 33.14 points up. The Federal Open Market Committee's October minutes showed most members felt that economic conditions for a rate hike would be met by the next time the committee met in December. This was despite continued volatility being seen across global markets as a result of geopolitical issues, dampened commodity prices and an economic slowdown in China.

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