Sensex gains 100 points, Nifty above 10,850; Vedanta tumbles 14%
It is firm opening for the benchmark indices ahead of Budget announcement with Nifty holding above 10,850 level.
The Sensex is up 83.63 points or 0.23% at 36340.32, and the Nifty up 29.30 points or 0.27% at 10860.30. About 458 shares have advanced, 275 shares declined, and 34 shares are unchanged.
Dabur, Bharti Airtel, UPL are trading higher, while Vedanta tumbled 14 percent.
Banking stocks including Bank of India, OBC, Bank of Maharashtra gained 4-14% after RBI lift the lending curbs.
Piyush Goyal, the interim finance minister, is going to present the interim budget for 2019-20 in parliament today. Benchmark indices are trading firm in the pre-opening session with Nifty around 10,850 level.
The Sensex is up 50.69 points at 36307.38, while Nifty is up 36.90 points at 10867.90.
Vedanta plunges 6%, while UPL, M&M, SBI, Escorts are trading higher in pre-opening session. Asian shares ticked up to four-month highs on Friday on hopes the leaders from the United States and China could strike a trade deal and as the Federal Reserve appeared to have all but abandoned a plan to raise borrowing rates further. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 48.50 points or 0.45 percent. Nifty futures were trading around 10,904-level on the Singaporean Exchange.
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