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INDORE, India - Aug. 8, 2016 - PRLog -- The market manages to hold early gains with the Nifty holding 8700. The 50-share index is up 26.75 points or 0.3 percent at 8709.90. The Sensex is up 93.34 points or 0.3 percent at 28171.69. Lupin, Reliance, Wipro, HDFC and Bajaj Auto are top gainers while Bharti Airtel, NTPC, Sun Pharma, L&T and Tata Steel are losers in the Sensex.

Oil prices rose, lifted by reports of renewed talks by some members of the Organization of the Petroleum Exporting Countries (OPEC) to restrain output. The price rise came on the back of renewed calls by some OPEC members to freeze production in a bid to rein in output that has been consistently outpacing demand.

Gold hovered near one-week lows, after falling about 2 percent in the previous session, as a stronger-than-expected US jobs report likely increased the possibility of a rate hike this year by the Federal Reserve.

Spot gold was nearly flat at USD 1,335.40 an ounce. It earlier touched its lowest since July 29 at 1,331.36.

The Indian rupee opened lower by 8 paise at 66.85 per dollar on Monday versus previous close 66.77. Dollar gained ground versus the yen amid the bigger-than-estimated increase in American payrolls.

INTERNATIONAL MARKET UPDATE

GOLD $ 1342.65

SILVER $ 19.073

COPPER $319.65

CRUDE OIL $ 41.89

INR 66.810

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