Nifty above 11,650 in pre-opening trade, Sensex higher by over 150 points

D-Street likely to mirror sentiment on global indices as well as SGX Nifty…

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Rupee opens: The Indian rupee gained in the opening trade on Monday. It has opened higher by 15 paise at 69.76 per dollar versus 69.91 Friday.

On Friday, Rupee rose following weakness in the dollar against its major crosses and ahead of Fed chairman statement at the Jackson Hole Symposium. In the recent past, the rupee has been under pressure primarily on the back of global factors than domestic factors, said Motilal Oswal.

Broad dollar strength has been one of the major factors that led to weakness in major Asian currencies and rupee has been one of the weakest of the pack. Data released by RBI showed FX reserves for the week ended August 24 remained more or less unchanged compared to previous week at USD 400.84 billion.

Market at pre-open: It is likely to be a good start to the Monday morning as pre-opening rates point to a positive opening.

At 09:01 hrs IST, the Sensex is up 122.34 points or 0.32% at 38374.14, while the Nifty is up 94.10 points or 0.81% at 11651.20.

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