Bharti Airtel, Lupin, Vedanta, ONGC, Sun Pharma and UltraTech Cement declined nearly a percent. NTPC, GAIL, Infosys, Hindalco, BHEL, Tata Power and Asian Paints were early gainers.
The market has opened marginally lower on Thursday. The Sensex fell 75.74 points to 26477.18 and the Nifty declined 20.40 points or 0.25% at 8019.80. Bharti Airtel, Lupin, Vedanta, ONGC, Sun Pharma and UltraTech Cement declined nearly a percent. NTPC, GAIL, Infosys, Hindalco, BHEL, Tata Power and Asian Paints were early gainers. The Indian rupee slipped 12 paise in the early trade today. It has opened at 65.60 per dollar versus 65.48 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "After Janet Yellen's testimony to Congress yesterday, the odds of a December Fed rate hike has increased substantially. This coupled with the fact that there could be further monetary easing by ECB in December has triggered dollar strength against all major currencies." "Expect the rupee to weaken today and is trade in a range of 65.60-65.85/dollar," he added. On global front, the dollar was at three-month highs against a basket of major currencies following a jump in US treasury yields as Fed officials indicate that a December "lift-off" in US rates is a distinct possibility. US stocks closed lower after Federal Reserve chairman Janet Yellen reinforced the fact that a December rate hike is a live possibility. Nasdaq listed IT major Cognizant delivered once again with a dollar revenue growth of 3.3 percent beating expectations. The company has raised its full-year growth guidance to a whopping 21 percent. Closer home, Asian stocks traded mostly lower in early trade today, following a weak Wall Street finish as increasing odds of a US interest-rate rise in December sapped risk appetite.
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