Indian Markets Open Higher; Rupee Rises Versus Dollar

Indian stock markets were trading higher on Tuesday. The S&P BSE Sensex gained 87.2 points, or 0.34 percent at 25852.36. The 30-share index touched a high of 25,972.61 in morning trade. The Nifty50 rose 0.44 percent to 7964.35, after touching a high of 8,002.05 in morning trade.

The S&P BSE Midcap Index gained 0.81 percent, while the BSE S&P Smallcap Index rose 0.94 percent.

The Indian rupee rose 3 paise against the U.S. dollar to trade at 68.13.

Direxion Daily India Bull 2X Shares INDL fell 2.77 percent to close at $41.08 on Monday, while PowerShares India Portfolio (ETF) PIN dropped 1.01 percent to close at $18.64.

US stock markets closed higher overnight, with the Dow Jones Industrial Average gaining 0.47 percent, the S&P500 index rising 0.75 per cent, and the Nasdaq Composite climbing 0.89 percent.

US WTI crude futures on the NYMEX gained 1.22 percent to trade at $48.83 per barrel.

Top market movers among the BSE index are as follows

• Tantia Constructions Ltd. rose about 20 percent to 16.30 INR.
• Vitan Agro Industries Ltd. rose 20 percent to 21.10 INR.
• Asian Tea Exports Ltd. shares surged 15 percent to 15.00 INR.
• TPL Plastech Ltd. shares gained around 11 percent to 333.60 INR.

• Shree Precoated Steels Ltd. shares dropped around 15 percent to 1.95 INR.
• Velan Hotels Ltd. fell around 14 percent to 5.42 INR.
• International Conveyors Ltd. slipped 11 percent to 15.05 INR.
• Divinus Fabrics Ltd. shares declined 10 percent to 230.40 INR.