The market was marginally lower in early trade with the Sensex struggling below 28000 level amid consolidation.
The Sensex was down 32.64 points at 27952.90 and the Nifty declined 16.20 points at 8612.95.
The Indian rupee has opened higher by 7 paise at 67.12 per dollar against previous close of 67.19 a dollar.
Ashutosh Raina of HDFC Bank says the market attention is fully focused on Fed Chief Janet Yellen's Jackson Hole speech this weekend, after some hawkish comments from Fed speakers have increased the probability of Fed hiking interest rates earlier than anticipated.
He expects the USD-INR pair to trade in the 67-67.50/dollar range in the near term. The dollar stopped its advance against major currencies on hesitation ahead of a speech from the Fed chair on Friday.
The Sensex was down 32.64 points at 27952.90 and the Nifty declined 16.20 points at 8612.95.
The Indian rupee has opened higher by 7 paise at 67.12 per dollar against previous close of 67.19 a dollar.
Ashutosh Raina of HDFC Bank says the market attention is fully focused on Fed Chief Janet Yellen's Jackson Hole speech this weekend, after some hawkish comments from Fed speakers have increased the probability of Fed hiking interest rates earlier than anticipated.
He expects the USD-INR pair to trade in the 67-67.50/dollar range in the near term. The dollar stopped its advance against major currencies on hesitation ahead of a speech from the Fed chair on Friday.
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