Nifty around 11,800, Sensex up 350 pts; Tata Steel gains 3% – Stock Market News

All the sectoral indices are trading higher led by PSU bank, metal, infra, auto, energy, IT and pharma.

Citi on Tata Power: Global brokerage house, Citi upgraded Tata Power, one of the largest power companies in private sector, to buy from neutral with a price target at Rs 76 per share, implying 18 percent potential upside from the current level.

Dollar Update: The dollar held near a two-week high early on Wednesday ahead of the Federal Reserve’s closely-watched policy decision later in the day, supported by a surprisingly dovish European Central Bank and bearish eurozone economic data.

Market Opens: It is a strong start for the Indian indices on June 19 with Nifty above 11,750 level.

The Sensex is up 267.07 points or 0.68% at 39,313.41, and the Nifty up 81.90 points or 0.70% at 11,773.40. About 523 shares have advanced, 288 shares declined, and 33 shares are unchanged

Tata Steel, Tata Motors, Indiabulls Housing, NMDC, JSPL, SAIL, Bank of Baroda, Bank of India, SBI and Ashok Leyland are among major gainers on the indices, while losers are BPCL, IOC and Britannia.

All the sectoral indices are trading higher led by PSU bank, metal, infra, auto, energy, IT and pharma.

Rupee Opens: The Indian rupee opened higher by 14 paise at 69.56 per dollar on Wednesday versus Tuesday’s close 69.70.

Market at pre-open: Benchmark indices are trading positive in the pre-opening session with Nifty above 11,700 level.

The Sensex is up 65.01 points or 0.17% at 39111.35, and the Nifty up 49.80 points or 0.43% at 11741.30.

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