Nifty reclaims 8800, Sensex firm in opening on Asian cues

 Tata Steel, SBI, NTPC, Wipro, Bharti Airtel, Grasim and Power Grid Corp were early gainers while M&M, Tata Motors, ICICI Bank, Aurobindo Pharma and BPCL were under pressure.Goldman on Lupin: Goldman Sachs revised FY17-19 EBITDA by 4-6 percent to factor in margin development and raised target to Rs 1,612 from Rs 1,541. The brokerage house feels product launch rate is a key upside risk for the stock while price erosion and execution at Gavis are downside risks. Shares of GPT Infraprojects rose 4 percent intraday as it has received order from Rail Vikas Nigam. The company has bagged an order worth Rs 217 crore from Rail Vikas Nigam. The order includes construction of important and major steel girder bridges, along with foundation, substructure and related projection works in connection with Mathura-Jhansi third line in Agra and Jhansi division on North central railway in the state of Uttar Pradesh, Madhya Pradesh and Rajasthan.

 The completion period of the said project is 36 months. Buy Reliance Capital, Bharat Forge, TVS Motor, opened moderately higher on last day of the week, with Sensex rising 88.56 points at 28418.26, tracking positive Asian cues and ahead of Q3 earnings. The 50-share NSE Nifty reclaimed 8800 level, up 35.35 points at 8813.75. The market breadth was also strong in opening as about 770 shares advanced against 247 declining shares on the Bombay Stock Exchange. Tata Steel, SBI, NTPC, Wipro, Bharti Airtel, Grasim and Power Grid Corp were early gainers while M&M, Tata Motors, ICICI Bank, Aurobindo Pharma and BPCL were under pressure. The Indian rupee has opened marginally higher at 66.81 per dollar today against previous close of 66.84. Ashutosh Raina of HDFC Bank says the rally in USD-INR pair continues on the back of global risk-on sentiment, even though dollar index has moved higher to 100.65 from recent lows. He expects the pair to trade in the 66.60-67/dollar range for today. Dollar gained after comments from US President Donald Trump that he would make a major announcement on a "phenomenal" tax plan in the next few weeks. Asian markets were trading higher, with the Japan's Nikkei rising more than 2 percent and China's Shanghai up 0.4 percent

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