Nifty hits 11,400 for the first time, Sensex at new high; midcap outperforms

Shares of Titan, Hero Motocorp, HDFC are up 1-2 percent, while Suzlon Energy down 10 percent in pre-opening trade.

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Market Opens: Equity benchmarks have clocked fresh record highs on Monday morning, with the Nifty hitting 11,400 for the first time, while the Sensex is also gained 200 points.

The Sensex is up 220.59 points at 37,776.75, and the Nifty up 57.30 points at 11418.10. About 818 shares have advanced, 177 shares declined, and 55 shares are unchanged.

All the sectoral indices are trading positive, while midcap and smallcap are also trading in line with major indices.

Rupee Opens: The Indian rupee opened marginally higher at 68.57 per dollar on Monday versus 68.61 Friday.

The dollar-rupee August contract on the NSE was at 68.86 in the previous session. August contract open interest increased by almost 10% in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

Market at pre-open: Pre-opening trends indicate that the Sensex and Nifty are likely to have a positive start, with the Nifty trading well above 11,400-mark.

At 09:03 hrs IST, the Sensex is up 121.96 points at 37,678.12, and the Nifty up 41.20 points at 11,402.

Shares of Titan, Hero Motocorp, HDFC are up 1-2 percent, while Suzlon Energy down 10 percent in pre-opening trade.

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