Lupin, Dr Reddy's Labs, TCS, Wipro, HDFC Bank, UltraTech Cement, BPCL and Asian Paints were early gainers, up 0.5-1.5 percent. ONGC, Vedanta, Bharti Airtel, Hero Motocorp, Tata Steel, ACC and Hindalco declined 0.6-1 percent.
The market has opened on a flat note following mixed global cues. The Sensex fell 16.03 points to 27348.89 and the Nifty declined 5.95 points to 8269.10. Lupin, Dr Reddy's Labs, TCS, Wipro, HDFC Bank, UltraTech Cement, BPCL and Asian Paints were early gainers, up 0.5-1.5 percent. ONGC, Vedanta, Bharti Airtel, Hero Motocorp, Tata Steel, ACC and Hindalco declined 0.6-1 percent. The Indian rupee has opened lower today, falling 15 paise to 64.95 a dollar compared to 64.80 per dollar in previous session. Ashutosh Raina, HDFC Bank says decline in commodity and energy prices after yesterday's China GDP data has dampened sentiment a bit amidst global growth concerns. According to him, USD/INR currency pair after failing to break Rs 64.70/USD support on the back of strong central bank intervention is expected to break the Rs 65/USD figure and move towards Rs 65.50/USD level, helped by risk-off sentiment. Sentiment is mixed for global equities at this point with China's 6.9 percent quarterly growth coming ahead of estimates yesterday but a fall in crude prices and mining stocks indicates worries over the health of the global economy persist.
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