After heavy fall seen in last few days, the market has opened with a strong roar with support from global cues triggered by Fed meeting outcome. The Sensex is up 277.73 points or 1.3% at 26980.86, and the Nifty is up 110.75 points or 0.93% at 8104.55.
Sugar stocks are in focus as production rose by 47% to 42.25 lakh tonnes till December 15 of this marketing year,
Hero MotoCorp Ltd is a ‘SELL’ call with a target of Rs 3030 and a stop loss of Rs 3086.
Petronet LNG Ltd is a ‘BUY’ call with a target of Rs 203 and a stop loss of Rs 188.
As the rupee slides against the dollar, Dalal Street traders are scouring the market for stock bets outside the obvious names that would benefit from the weaker currency.
Bajaj Auto, Bharat Forge, Motherson Sumi, and capital goods companies such as Voltas and Crompton GreavesBSE 3.72 % are among those that could benefit from a weaker rupee.