Indian equity market has opened slightly higher with the Sensex is up 78.23 points at 20412.50, and the Nifty is up 19.00 points at 6072.45. The Indian rupee moved up marginally in the early trade, it opened higher by 6 paise at 62.37 per dollar against 62.43 Monday. Globally, investors are focused on Yellen's first testimony before Congress today. Markets are looking for clues as to whether monetary policy will remain supportive. Her testimony comes after a second month of soft jobs numbers. Yellen has been a supporter of the Fed's loose monetary policy and it is yet to be seen if she will be able to walk the fine line between reducing asset purchases and not spooking markets. Asian equity markets were mostly higher on Tuesday but volumes were light with Japanese markets closed and as investors awaited a speech from Federal Reserve Chair Janet Yellen. On BSE, Small cap and Midcap are trading higher by 0.50% and 0.35% respectively. On sectoral front, Capital goods is the top gainer to gain 0.92% while on the lopsided, Realty is the worst sector to decline 0.21% as we write this.
Further the market breath stands positive with 821 shares are seen advancing against 547 declining shares.
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