Opening Bell – Nifty opens above 9650, Sensex gains 50 points

The BSE Sensex opened higher by 53 points at 31298, while the Nifty50 opened higher by 12 points at 9653 mark.

Lupin is There are 944 the top Nifty gainer and Cipla is the top Nifty loser in the morning hours. 

advances, 418 declines and 461 unchanged stocks on NSE reflecting a positive bias floating in the market.

 The Nifty50 index now going forward may find resistance near level of 9,650-9,660 and if it sustains above this resistance zone it may scale up to levels of 9,700-9,710. On the lower end, the level of 9,580 may act as an immediate support level for the Nifty50, but if index fails to hold this support level it may witness further correction up to levels of 9,550 and 9,530.

 The rupee opened at 64.75 per US dollar appreciated by 3 paise. On Wednesday, the rupee closed at 64.78 a dollar marginally weaker against the US dollar before the federal reserve minutes from its June meeting due later.

 The Nasdaq and S&P 500 closed higher, while the Dow Industrials closed tad lower on Wednesday. Minutes of the last U.S Federal Reserve meeting were release on Wednesday; The Federal Reserve plans to reduce their bloated balance sheet but failed to provide a specific timeline to begin the process. The Dow Jones Industrial ended lower by 1 point. The S&P 500 index finished up 4 points and the Nasdaq Composite Index rose 41 points to finish at 6,151.

 Most of the Asian bourses were trading in negative terrain on Thursday. Japan’s Nikkei 225 has slipped 65 points; Hong Kong Hang Seng has shed 12 points, while China’s Shanghai Composite trading lower by 3 points