Sunday, 15 November 2015

Sensex, Nifty open lower; Dr Reddy, Tata Steel gainers -- 16 Nov 2015

Dr Reddy's Labs, Tata Steel, GAIL, NTPC and L&T are top gainers.

The market has opened on lower level. The Sensex is down 89.45 points or 0.3 percent at 25521.08. The Nifty slips 29.60 points or 0.4 percent at 7732.65. About 366 shares have advanced, 376 shares declined, and 47 shares are unchanged. Dr Reddy's Labs, Tata Steel, GAIL, NTPC and L&T are top gainers. Among the losers are ONGC, Infosys, Bajaj Auto, Hindalco and Wipro. The Indian rupee slipped in early. It has opened lower by 10 paise at 66.20 per dollar versus 66.10 Friday. Pramit Brahmbhatt of Veracity said, "We expect the rupee to depreciate today as Asian markets have already opened on a weak note which will force local equities to trade lower. The gain in dollar is likely to hurt the rupee." Asian stocks were hit by a sell-off early, with sentiment badly dented by brutal terrorist attacks in Paris. The attacks, which occurred across seven locations, leaving 132 people dead and hundreds more injured, will likely have a "short, sharp effect" on equity markets, analysts say. "The horrific events in Paris on Friday are likely to have a short, sharp effect in markets but in the long-term, real effects are more likely to influence political risk than the markets themselves," IG's market strategist Evan Lucas wrote in a note issued early Monday.

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