Market Live: Sensex opens at fresh record high, Nifty above 11,050

Among sectoral indices, all of them are trading in the green, with strength seen among PSU banks pharmaceuticals, energy and auto names

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Market opens: It’s a strong start to the market on Wednesday morning, with the Sensex hitting a fresh record high, rising 200 points, while the Nifty opened above 11,050-mark.

The Sensex is up 198.95 points or 0.54% at 36718.91, while the Nifty is up 62.50 points or 0.57% at 11070.50. The market breadth is positive as 354 shares have advanced, while 79 shares have declined, and 46 shares are unchanged.

Among sectoral indices, all of them are trading in the green, with strength seen among PSU banks pharmaceuticals, energy and auto names. In the broader market, midcaps are trading higher as well, up over half a percent on the index.

Rupee update: The Indian rupee opened marginally higher at 68.42 per dollar on Wednesday versus 68.45 yesterday.

Yesterday, rupee broadly consolidated in a range but traded with a slight positive bias despite strength in the dollar against its major crosses. Crude oil came under pressure API after reported a surprise crude oil build of 629,000 barrels of United States crude oil inventories for the week ending July 14 compared to expectations that this week would see a draw in crude oil inventories of 3.62mbpd, said Motilal Oswal.

Crude has been one of the major factor that is supporting the rupee and sustained fall in the same could continue to keep losses capped for the rupee.

Market at pre-open: Pre-opening trades indicate a strong start to the market on Wednesday morning.

The market breadth is positive as 2 shares advanced, against a decline of 1 share declined, while 2719 shares are unchanged.

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