How the Market opened today

The Nifty opened higher, in line with the trend on the SGX Nifty, and held on to early gains. Other indices that posted gains were the Pharma, Software and Small cap Indexes on the National Stock Exchange.

Sun Pharma, Tata Motors and Coal India were the top gainers on the Nifty where the Advance-Decline Ratio was evenly matched at 1:1. BPCL, Maruti, Bharti Airtel and Reliance Industries hit fresh 52-week highs on the Index. Hindalco, on the other hand, slumped to a fresh yearly low of 111 rupees. Meanwhile, IndusInd Bank, NMDC and ACC were the top losers on the Nifty

The Auto Index was also among gainers ahead of monthly sales data for June. Ashok Leyland, TVS Motor and Eicher Motors lead the Auto pack in early deals.

Glenmark Pharma was the top gainer in the drugs sector after a brokerage note coming in from BoFA ML, which raised the price target on the stock to `1,100 on the back of strong growth seen from its main US market.

(Image credit: Indiatimes)