Indian Markets Edge Higher; Rupee Down Against Dollar

Indian stock markets were trading higher on Friday. The S&P BSE Sensex climbed 34.6 points, or 0.13 percent at 26728.92. The 30-share index touched a high of 26,803.26 in morning trade. The Nifty50 rose 0.06 percent to 8252.10, after touching a high of 8,271.90 in morning trade.

The S&P BSE Midcap Index rose 0.1 percent, while the BSE S&P Smallcap Index gained 0.2 percent.

The Indian rupee dropped 19 paise to trade at 67.55 against the U.S. dollar on Friday.

Direxion Daily India Bull 2X Shares INDL rose 3.22 percent to close at $49.66 on Thursday, while PowerShares India Portfolio (ETF) PIN gained 1.06 percent to close at $19.96.

US stock markets closed higher on Thursday, with the Dow Jones Industrial Average gaining 0.33 percent, the S&P500 index rising 0.22 per cent, and the Nasdaq Composite gaining 0.44 percent.

US WTI crude futures on the NYMEX gained 0.26 percent to trade at $50.97 per barrel.

Top market movers among the BSE index are as follows

• Mangalam Seeds Ltd. shares gained around 20 percent to 138.05 INR.
• Dharamsi Morarji Chemicals Company Ltd. rose about 20 percent to 110.55 INR.
• Eurotex Industries & Exports Ltd. rose 20 percent to 33.60 INR.
• Rasoi Ltd. shares surged 19 percent to 1339.95 INR.

• Global Offshore Services Ltd. shares dropped around 14 percent to 94.90 INR.
• Upsurge Investment & Finance Ltd. fell around 13 percent to 22.50 INR.
• Info-Drive Software Ltd. shares declined 13 percent to 0.21 INR.
• Shekhawati Poly Yarn Ltd. tumbled 12 percent to 1.90 INR.