LIVE: Sensex, Nifty move in narrow range; L&T, Tata Steel top gainers

Sensex and Nifty moved in narrow range.

Biocon share up 5%

Shares of biopharmaceutical firm Biocon surged over 5 percent after the company said its Malaysian arm Biocon Sdn Bhd has received EU GMP compliance certificate from the Health Products Regulatory Authority of Ireland for its insulin manufacturing facility.

After making a positive opening, shares of the company further jumped 5.32 percent to Rs 353 on BSE. At NSE, shares of the company gained 5.45 percent to Rs 353.

Gold price at 1-year peak

Gold price At the Multi Commodity Exchange (MCX), gold for delivery in October was trading higher by Rs 98 or 0.32 percent at Rs 30,380 per 10 grams.

Globally, gold hit its highest in a year today as the dollar sagged after weaker-than-expected US jobs data and as festering tensions over North Korea stoked safe-haven demand.

Spot gold was up 0.3 percent at USD 1,353.12, after earlier marking its strongest level since August last year. It was up 2 percent for the week, on track for a third weekly gain. US gold futures for December delivery were up 0.6 percent at USD 1,358.

The market breadth (BSE) was positive as 1,282 shares advanced against a decline of 738 shares, while 89 shares were unchanged.

Larsen and Toubro emerges as top gainer

Stocks of Larsen and Toubro (L&T) was quoting higher by 1.20 percent at Rs 1,140.05. Other gainers were Tata Steel, Coal India, Cipla, HDFC Bank and ITC, rising by up to 1 percent.

Opening trade

The 30-share index was trading higher by 71.62 or 0.23 percent  to 31,734.36 after moving in range of 31,763.70 and 31,694.15. It opened up by 31.41 points at 31,694.15 as against its previous close of 31,662.74.

The NSE Nifty was up 27.75 points or 0.28 percent at 9,957.65 in early trade.

Rupee strengthens below 64 vs USD

The rupee strengthened by 17 paise to 63.88 against dollar at the interbank foreign exchange in early trade today on continuous selling of the US currency by exporters and banks.

Yesterday, the rupee had closed five paise higher at 64.05 against the American unit.

SGX Nifty was up by 25.50 points.

Pre-opening trade

BSE Sensex was up 28.75  points, Nifty quoted higher by 31.41 points.

In Asia, Tokyo stocks, however, fell with a stronger yen weighing on exporters and traders keeping a nervous eye on North Korea with the possibility of a fresh missile launch at the weekend. The benchmark Nikkei 225 index was down 0.38 percent, or 73.78 points, at 19,322.74 by the break, while the broader Topix index edged down 0.02 percent, or 0.37 points, to 1,597.87.

The US Dow Jones Industrial Average ended 0.10 percent lower yesterday.