Indian Markets Edge Higher; Rupee Down Against Dollar

Indian stock markets were trading slightly higher on Monday. The S&P BSE Sensex climbed 16.60 points, or 0.06 percent at 26332.98. The 30-share index touched a low of 26,183.22 in morning trade. The Nifty50 rose 0.06 percent to 8119.10, after touching a low of 8,066.50 in morning trade.

The S&P BSE Midcap Index gained 0.26 percent, while the BSE S&P Smallcap Index rose 0.07 percent.

The Indian rupee dropped around 12 paise to trade at 68.54 against the U.S. dollar.

Direxion Daily India Bull 2X Shares INDL rose 6.72 percent to close at $43.98 on Friday, while PowerShares India Portfolio (ETF) PIN gained 2.52 percent to close at $19.13.

US stock markets closed higher on Friday, with the Dow Jones Industrial Average gaining 0.36 percent, the S&P500 index rising 0.39 per cent, and the Nasdaq Composite surging 0.34 percent.

US WTI crude futures on the NYMEX dropped 0.26 percent to trade at $45.94 per barrel.

Top market movers among the BSE index are as follows

• Modi Udyog Ltd. rose about 20 percent to 194.10 INR.
• IM+ Capitals Ltd. rose 20 percent to 40.80 INR.
• Delta Industrial Resources Ltd. shares gained around 20 percent to 55.00 INR.
• Somi Conveyor Beltings Ltd. shares surged 18 percent to 48.20 INR.

• Inducto Steel Ltd. tumbled 16 percent to 24.05 INR.
• Amba Enterprises Ltd. shares dropped around 10 percent to 92.95 INR.
• Essar Securities Ltd. fell around 8 percent to 23.60 INR.
• Waterbase Ltd. shares declined 8 percent to 87.60 INR.