After sharp cuts on Monday, the market has opened flat today. The Sensex is down 46.89 points at 26476.20 and the Nifty is down 18.35 points at 8025.80. About 244 shares have advanced, 283 shares declined, and 77 shares are unchanged. Tata Steel, Cipla, ITC, Sun Pharma and Reliance are top gainers in the Sensex. Among the gainers are GAIL, M&M, Vedanta, Hero and Hindalco.
The Indian rupee recovered a bit in the opening trade as it has gained 11 paise at 63.97 per dollar against previous day's closing value of 64.08 a dollar. With the underlying bullish dollar trend still intact, we should expect the pair to trade with a weakish bias." The dollar steadied against major counterparts managing to regain its footing after a sharp drop against the euro on solid German data and higher bund yields. The dollar index holds above the 95 mark.
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