Markets open in green; IOC, HPCL, BPCL shares in spotlight over govt stand on daily petrol price revision

Key indices on Thursday opened on positive note. Sensex was up by over 64 Points or 0.20% at 32,250.50 while the broader NSE Nifty was up by over 21 points or 0.21% at 10,100.40.

At 9.30 AM, Sensex rallied 116 points or 0.36% at 32,302.54 while Nifty traded at 36 points up at 10,115.75 during the early morning trade.

Major gainers were Sun Pharma, Axis Bank Lupin, Dr Reddy's, Cipla, Reliance Industries, Tata Motors, ICICI Bank, SBI and Adani Ports rising up to 3.69 per cent.

Meanwhile, DIIs bought shares worth a net Rs 725.90 crore yesterday, as per provisional data.

The initial public offer (IPO) of Matrimony.com, the online matchmaking portals, was oversubscribed 2.49 times so far on the last day of bidding on Wednesday. The IPO is targeting to raise over Rs 500 crore. 

Shares of oil firms like, IOC, HPCL and BPCL were also in spotlight after the petrol prices on Wednesday touched a three-year high. The shares of all three firms rose over 4-5% after the government ruled out any possibility of intervention in daily revision of petrol price. 

The rupee dropped by 16 paise to 64.16 against the US dollar in early trade trade at the interbank forex exchange today on fresh buying of the American currency by importers.

Traders said the dollar's strength against some currencies overseas on expectations of an interest rate hike this year weighed on the rupee.

(With inouts from PTI)