Markets open marginally higher; Pharma shares gain: Markets are opened flat with positive bias tracking weakness in Asia. However, volatility cannot be ruled out later today as traders shift positions ahead of expiry of March derivative contracts on Thursday. Investment trends by overseas investors, movement of rupee against the dollar and crude oil would also influence trading. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.
At 9:35 AM, the S&P BSE Sensex was trading at 28233 up 41 points, while NSE Nifty was trading at 8560 up 9 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened with marginal gains at 62.22 per dollar today versus Monday's closing value of 62.27 a dollar. The dollar slips across the board pulled lower by expectations US interest rates will rise more slowly than previously expected.