The market has opened with gains. The Sensex is up 254.50 points or 1 percent at 25559.97 and the Nifty is up 79.25 points or 1 percent at 7828.10. About 602 shares have advanced, 102 shares declined, and 22 shares are unchanged. For more information visit www.marketmagnify.com/stock-cash-tips.php
Axis Bank, Tata Motors, SBI, Adani Ports and Lupin are top gainers while Cipla and Coal India are losers in the Sensex.
The Indian rupee opened higher by 12 paise at 67.63 per dollar against previous close of 67.75.
Asia markets opened sharply higher on Wednesday, with most major indexes advancing around than 1 percent each, after encouraging reports on the housing market stateside saw gains in US stocks.
US stocks ended higher overnight, with the Dow Jones industrial average closing up 1.22 percent, the S&P 500 higher by 1.37 percent and the Nasdaq composite added 2 percent.
Gold slipped to a seven-week low as expectations of an early interest rate hike by the US Federal Reserve pushed the dollar to a near two-month high.
Fourth quarter earnings to keep Cipla, BoI, TechM in focus today
Pharma major Cipla reported a consolidated net profit of Rs 80.87 crore for the fourth quarter ended March 31, 2016.