Sensex, Nifty open higher; Manufacturing PMI in focus

The market breadth was in favour of the advances with 965 stocks gains and 475 declined on the NSE.

Jul 01, 2020 09:07 IST India Infoline News Service

Dalal Street
Domestic markets opened higher tracking Asian peers. Heavyweights index like RIL, HDFC, Bharti Airtel, ITC, and Infosys among top gainers, while losers included Kotak Bank, L&T and NTPC.

The Sensex was trading 104 points higher at 35,020 and the Nifty rose 30 points at 10,331. The market breadth was in favour of the advances with 965 stocks gains and 475 declined on the NSE.

The manufacturing PMI for June is slated to be released later today.

On the economy front, Fitch Ratings cut India's GDP growth forecast for 2021-22 fiscal to 8% from 9.5% estimated last month and data showed India's fiscal deficit touched 58.6% of the budgeted target for the current fiscal year in the first two months through May.

On the positive side, infrastructure output showed signs of bottoming out in May, with production declining 23.4% vs. April's 37% decline.

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