Opening Bell – Nifty opens above 9650, Sensex gains 50 points

The BSE Sensex opened higher by 53 points at 31298, while the Nifty50 opened higher by 12 points at 9653 mark.

Lupin is the top Nifty gainer and Cipla is the top Nifty loser in the morning hours. 

The Nifty50 index now going forward may find resistance near level of 9,650-9,660 and if it sustains above this resistance zone it may scale up to levels of 9,700-9,710. On the lower end, the level of 9,580 may act as an immediate support level for the Nifty50, but if index fails to hold this support level it may witness further correction up to levels of 9,550 and 9,530.
 
The rupee opened at 64.75 per US dollar appreciated by 3 paise. On Wednesday, the rupee closed at 64.78 a dollar marginally weaker against the US dollar before the federal reserve minutes from its June meeting due later.