The Indian market started the day on a positive note with Sensex opening higher by almost 30 points at 20579.56 versus the previous close of 20547.62 and Nifty was up by just 9 points at 6098.50 at 9:15 am. Market opened flat despite resolution on the US debt ceiling. We expect Sensex and Nifty to trade in a range with a positive bias tracking the gains in other Asia markets. In the early trade today, Indian rupee gained 29 paise to 61.55 versus the dollar. Globally, US stocks closed at session highs on Wednesday with the Dow surging 200 points and S&P within one percent of hitting its record after Senate leaders announced a long-awaited compromise to raise the debt ceiling and put an end to the government shutdown. Asian market are also trading positive today. On BSE, Midcap is trading higher by 0.53% and Small cap is trading up by 0.38% at the time of writing this. On sectoral front, FMCG is leading the gaining sectors by recording a gain of 1.40% whereas the worst performing sector is IT which is down by 1.22%.
Further the market breath stands positive with 748 shares are seen advancing against 435 declining stocks.
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