Equity benchmarks extended gains on Tuesday as the Sensex opened higher by more than 150 points and the Nifty reclaimed its 9250 level, backed by Reliance Industries. Positive Asian cues also aided the rally.
The 30-share BSE Sensex was up 171.05 points at 29,826.89 and the 50-share NSE Nifty gained 48.85 points at 9266.80. Nifty Bank opened at record high.
Reliance Industries surged 2.46 percent after better-than-expected earnings in Q4. M&M, ICICI Bank, Dr Reddy's Labs, Cipla, Indiabulls Housing Finance, Ambuja Cements and Hindalco were other early gainers.
(Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com)
Bharti Airtel, Infosys, NTPC, HCL Tech and ITC were losers.
The Indian rupee opened marginally higher at 64.42 per dollar today against previous day's closing value of 64.44.
Bhaskar Panda of HDFC Bank said, "Global currency movement has had little effect on the USD-INR as the pair remains rangebound."
"I do not see any breakout now as I expect the pair to trade within a range of 64.35-64.60/dollar today," he added.
The dollar index is lower against a basket of major currencies, though the euro surged against the US dollar on relief over Emmanuel Macron's victory against Marine Le Pen.
Equities held in the green in Asia following the global relief rally after the first round of France's presidential election stoked a relief rally, with several regional markets jumping to multi-year highs.
Major Asian markets are trading in the mixed, at present Shanghai Composite is trading 0.19 % lower while Hang Sang is trading up 0.62%. Nikkei is trading down 0.81%.
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