India Stock market update: Sensex opens in green – Pragativadi

Forex Market Stock Traders

Mumbai: Indian indices opened on positive note on June 16 with Nifty above 15800. At 09:16 IST, the Sensex was up 506.41 points or 0.96% at 53047.80, and the Nifty was up 142.40 points or 0.91% at 15834.60. About 1437 shares have advanced, 250 shares declined, and 56 shares are unchanged.

Reliance Industries, Bajaj Finance, IndusInd Bank, ICICI Bank and Bajaj Finserv were among major gainers on the Nifty, while losers were ONGC, Nestle India, Bharti Airtel, SBI Life Insurance and Dr Reddy’s Laboratories.

Gainers and Losers on the BSE Sensex in the early trade:

Brokerage firm JP Morgan India has upgraded its rating on shares of Reliance Industries to ‘overweight’ from ‘neutral’ earlier and set a price target of Rs 3,170 implying an upside of more than 22 percent over the next 12 months.

Asian stocks rose on Thursday, while longer-dated U.S. government bond yields fell and the dollar was down from two-decade highs after the U.S. Federal Reserve delivered an aggressive rate hike and cut its growth projections.

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