Mumbai: Boosted by some improvement in macro data, the market has opened with gains. The Sensex is up 61.79 points at 27842.62, and the Nifty is up 7.75 points at 8376.25.About 382 shares have advanced, 109 shares declined, and 74 shares are unchanged.
Sun Pharma, Tata Motors, Hindalco, ONGC amd Coal India are top gainers while HUL, Dr Reddy's Labs, NTPC and HDFC twins are major laggards.
The Indian rupee has opened flat at 63.65 per dollar against previous day's closing value of 63.64 a dollar.
NS Venkatesh of IDBI Bank said, "The USD-INR pair ended on a positive note on Tuesday. We saw some dollar sales by the custodial banks and the month-end import demand was at a low."
The euro traded around 1.1 to the dollar as Greece defaults on a repayment to the IMF, but short-covering and uncertainty ahead of a key referendum caps losses.
Greece has defaulted on its 1.6 bn euro repayment to IMF and can't get further aid till dues are cleared. The country has asked for extension which will be considered on Wednesday. The Greece government has asked EU creditors for a new package.
Asia is holding with very slim gains but is reacting to lots of economic data. Nikkei is reacting to the release of a better-than-expected central bank survey.
China June official PMI came in at 50.2 which was inline with expectations.
US stocks recovered to end with mild gains as all eyes remain on Greece. For the first half of the year, the S&P 500 posts its smallest gain on record, up just 0.20 percent. The Dow was down about 1.1 percent and the Nasdaq outperformed with 5.3 percent gains.
Brent crude prices gained 2 percent on Tuesday. It is currently above USD 63 per barrel. Meanwhile Iran and six world powers give themselves an extra week to reach a final nuclear accord.
US President Barack Obama says the country is prepared to walk away from a deal unless Iran accepts tight monitoring.
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