The market has opened weak. The Sensex falls 115 points at 19252.11. The Nifty is down 54 points after opening above 5700. About 133 shares have advanced, 199 shares declined, and 26 shares are unchanged.
The market has opened weak. The Sensex falls 115 points at 19252.11. The Nifty is down 54 points after opening above 5700.
About 133 shares have advanced, 199 shares declined, and 26 shares are unchanged.
Titan Industries slumps 12 percent as it faces three majoe downgrades in last 24 hours on the back of gold import duty hike. The government increased import duty on gold, silver and platinum to 10 percent with a view to arrest the declining value of rupee and contain the fiscal deficit to 3.7 percent of the GDP.
The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 percent to 10 percent.
The Indian rupee opened marginally higher at 61.35 per dollar versus 61.43 yesterday.
Himanshu Arora, Religare said, "The rupee may weaken further as inflation surged to 5.79 percent. Sustained dollar demand from importers, especially oil firms may underpin the dollar against the rupee. The currency may range between 61.28-61.70/USD."
The euro rose back to 1.33 to the dollar. The dollar index slipped to 81.15 levels. The dollar yen was around 97.
The market has opened weak. The Sensex falls 115 points at 19252.11. The Nifty is down 54 points after opening above 5700.
About 133 shares have advanced, 199 shares declined, and 26 shares are unchanged.
Titan Industries slumps 12 percent as it faces three majoe downgrades in last 24 hours on the back of gold import duty hike. The government increased import duty on gold, silver and platinum to 10 percent with a view to arrest the declining value of rupee and contain the fiscal deficit to 3.7 percent of the GDP.
The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 percent to 10 percent.
The Indian rupee opened marginally higher at 61.35 per dollar versus 61.43 yesterday.
Himanshu Arora, Religare said, "The rupee may weaken further as inflation surged to 5.79 percent. Sustained dollar demand from importers, especially oil firms may underpin the dollar against the rupee. The currency may range between 61.28-61.70/USD."
The euro rose back to 1.33 to the dollar. The dollar index slipped to 81.15 levels. The dollar yen was around 97.
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