The market has opened in red once again. The Sensex is down 50.31 points at 26786.89, and the Nifty slips 17.15 points at 8117.95. About 398 shares have advanced, 213 shares declined, and 76 shares are unchanged.
ICICI Bank, Tata Motors, HDFC, HUL and Hindalco are amonh laggards while Cipla, Axis Bank, Vedanta, Dr Reddy's Labs and Bajaj Auto are top gainers in the Sensex. The Indian rupee slipped in early trade today. It has opened lower by 19 paise at 64.09 per dollar against 63.90 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "Weak equity and bond markets in India are resulting in dollar buying by custodial banks resulting in pressure on rupee. However, Reserve Bank of India (RBI) action is tempering the rupee weakness. Expect the rupee to trade in a range of 63.80-64.25/dollar today." Globally, US markets ended higher as investors found encouragement in signs of economic growth. Meanwhile, European markets ended with modest gains as the European Central Bank (ECB) held rates steady in a policy announcement devoid of any surprises. Asian markets are positive in early trade.
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