After the rally seen on Monday, the market has opened flat today. The Sensex is up 8.16 points at 27709.95 and the Nifty is up 0.60 points at 8324.60. About 386 shares have advanced, 191 shares declined, and 33 shares are unchanged. M&M, NTPC, Tata Motors, Bharti Airtel and Coal India are top gainers in the Sensex. Among the losers are Dr Reddy's Labs, HDFC Bank, Sun Pharma, Sesa Sterlite and Hindalco. The Indian rupee opened marginally lower at 63.30 per dollar against the previous closing of 63.25. The dollar holds firm, having risen to its highest level in nearly nine years against a basket of major currencies, driven in part by persistent weakness in the euro and a fresh fall in the yen. Ashutosh Raina of HDFC Bank said, "The upward march of USD continues amid thin trading in holiday season. The revival of risk appetite helped global equity markets end higher, with dollar broadly firm on divergent yield outlook." Globally, US markets ended higher leading the Dow and the S&P 500 to record finishes. European markets too closed with gains with the sentiment boosted by a rebound in the Russian ruble. Asian markets are positive. In other asset classes, crude prices declined, with Brent Crude down 2 percent to USD 60 per barrel after Saudi Arabia's Oil Minister said OPEC would not cut production at any price. Gold slipped below USD 1180 an ounce and silver slid 3 percent after US existing home sales fell to a six-month low, and as oil prices eased back.
Tuesday 23 December 2014
Sensex, Nifty open flat; M&M, Bharti, NTPC gainers
After the rally seen on Monday, the market has opened flat today. The Sensex is up 8.16 points at 27709.95 and the Nifty is up 0.60 points at 8324.60. About 386 shares have advanced, 191 shares declined, and 33 shares are unchanged. M&M, NTPC, Tata Motors, Bharti Airtel and Coal India are top gainers in the Sensex. Among the losers are Dr Reddy's Labs, HDFC Bank, Sun Pharma, Sesa Sterlite and Hindalco. The Indian rupee opened marginally lower at 63.30 per dollar against the previous closing of 63.25. The dollar holds firm, having risen to its highest level in nearly nine years against a basket of major currencies, driven in part by persistent weakness in the euro and a fresh fall in the yen. Ashutosh Raina of HDFC Bank said, "The upward march of USD continues amid thin trading in holiday season. The revival of risk appetite helped global equity markets end higher, with dollar broadly firm on divergent yield outlook." Globally, US markets ended higher leading the Dow and the S&P 500 to record finishes. European markets too closed with gains with the sentiment boosted by a rebound in the Russian ruble. Asian markets are positive. In other asset classes, crude prices declined, with Brent Crude down 2 percent to USD 60 per barrel after Saudi Arabia's Oil Minister said OPEC would not cut production at any price. Gold slipped below USD 1180 an ounce and silver slid 3 percent after US existing home sales fell to a six-month low, and as oil prices eased back.
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