Sensex, Nifty open flat; ITC, SBI, Coal India laggards -- 8 Oct 2015

Vedanta, Cipla, ONGC, M&M and Lupin are top gainers while ICICI Bank, SBI, Coal India, HDFC and ITC are in red.

                                     

The market has opened flat. The Sensex is up 23.53 points at 27059.38 and the Nifty is down 6.95 points at 8170.45. About 431 shares have advanced, 142 shares declined, and 34 shares are unchanged. Vedanta, Cipla, ONGC, M&M and Lupin are top gainers while ICICI Bank, SBI, Coal India, HDFC and ITC are in red. The Indian rupee has opened lower by 5 paise at 65.03 per dollar on Thursday against previous close of 64.98. Yesterday the rupee touched an eight-week high of 64.95. Mohan Shenoi of Kotak Mahindra Bank said, "Weaker than expected data from US has triggered expectations of further delay in Fed rate hike even beyond December 15. This has sparked a risk-on rally once again including in EMs." Dollar gained against euro, franc on greater appetite for risk. Asian stocks traded mostly higher following a positive lead from Wall Street, with Chinese equities leading gains after mainland markets resumed trade after a week-long holiday. Major US indexes closed higher overnight, helped by a recovery in health care stocks and gains in energy. The Dow Jones Industrial Average closed up 0.7 percent, while the S&P 500 and Nasdaq composite gained 0.8 and 0.9 percent, respectively. The key focus of investors on Thursday is on China markets, which reopened after National Day holidays. The Shanghai Composite opened up 3.5 percent at 3,158.90. Elsewhere in Greater China, Hong Kong's Hang Seng Index slipped 0.5 percent and Taiwan's Taiex edged down 0.1 percent.

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