Bharti Airtel, Coal India, Axis Bank, ITC, HUL, Idea Cellular and Bank of Baroda were early losers. Tata Motors, Hindalco, Vedanta, NTPC, Wipro and BPCL gained strength.
The market has opened flat with a negative bias despite positive global cues. The Sensex declined 24.98 points to 26985.16 and the Nifty fell 6.40 points to 8173.10. About 528 shares have advanced, 174 shares declined, and 34 shares are unchanged on the BSE.Bharti Airtel, Coal India, Axis Bank, ITC, HUL, Idea Cellular and Bank of Baroda were early losers. Tata Motors, Hindalco, Vedanta, NTPC, Wipro and BPCL gained strength. The Indian rupee has opened marginally lower by 5 paise at 64.87 per dollar today against previous day's closing value of 64.82 Thursday. Pramit Brahmbhatt of Veracity says equity market is expected to open in the green taking strong cues from global markets. He sees range for rupee between 64.40-65.20/dollar today. The dollar rose against a basket of currencies on Thursday as underlying domestic inflation strengthened more than expected in September, reviving some expectations the Federal Reserve would raise interest rates this year. In US, stocks closed more than a percent higher on Thursday as financial stocks rallied. The September consumer data showed minimal inflation in the near-term. US CPI fell in line with expectation and showed 0.2 percent decline in the last month. In Asian markets, Nikkei upmove was largely aided by weakness in the yen and is expected to trade flatly for the week. Kospi gained 2.7 percent this week. On the other hand, Taiwanese had a great week with gains of 3.5 percent. It remained unchanged in the trade today.
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