The Sensex touched 27000 for first time after October last year.The Sensex is up 141.64 points or 0.5 percent at 26984.78, and the Nifty is up 36.20 points or 0.4 percent at 8255.15. About 1096 shares have advanced, 452 shares declined, and 58 shares are unchanged. For more trading tips visit www.marketmagnify.com/stock-cash-tips.php and give a missed call on @ 7879-88-11-22The market extended uptrend in early trade Friday, tracking positive global cues. The Nifty reclaimed 8250 level for the first time since October 26, 2015, aided by banking & financials, auto and select technology stocks.
The 30-share BSE Sensex rose 134.09 points to 26977.23 and the 50-share NSE Nifty climbed 35.15 points to 8254.10.
The Indian rupee opened higher by 6 paise at 67.23 per dollar today against previous close of 67.29.
Oil prices rose despite world's top oil producers failing to set a cap on production in the OPEC meet yesterday, Brent crude prices were up 22 cents at USD 49.94 per barrel.
Indian drug industry will see moderation in growth due to slowing of business in the US market with reduction in the number of large size drugs going off patent, increased competition and generic adoption reaching saturation levels, ICRA said. The Indian drug firms have registered strong growth over last decade driven mainly by the US market.
After the recent rally, the Indian market is now trading at roughly 16.5 times one-year forward earning, which is slightly higher than the 10-year mean, says Surendra Goyal, Head of Research at Citi in a note to clients. The brokerage has raised its Sensex target to 28,800 from 27000 earlier. The revised target implies 16 times estimated earnings for 2017-18.