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Nifty opens Mar series above 7000, Sensex up 200 pts; USL zooms
The market started off March series on a strong note with the Nifty reclaiming 7050 level, led by short covering in beaten down stocks in previous three consecutive sessions.
The 30-share BSE Sensex rose 235.66 points or 1.03 percent to 23211.66 and the 50-share NSE Nifty climbed 78.55 points or 1.13 percent to 7049.15.
Hindalco Industries, Adani Ports, Larsen & Toubro, SBI, Tata Motors, Vedanta, Cairn India, Power Grid Corp and Bank of Baroda gained 2-3 percent while ICICI Bank declined.
United Spirits rallied 6 percent after Vijay Mallya resigned as chairman of the company. MK Sharma, currently an independent, non-executive director, and chairman of the audit committee, is appointed as chairman of the company. Additionally, the stock is also added in NSE F&O segment.
The Indian rupee has opened marginally lower at 68.73 per dollar today versus 68.71 Thursday.