GAIL, Lupin and Wipro lost 1-3 percent post Q1 earnings. Vedanta and ICICI Bank slipped over 1 percent. However, Sun Pharma, Bajaj Auto, TCS, Axis Bank, Reliance Industries, Cairn India, BPCL and HCL Tech are early gainers.
The market opened lower, tracking weakness in global peers. The Sensex fell 91.41 points to 28279.43 and the Nifty declined 24.45 points to 8565.35. About 495 shares have advanced, 278 shares declined, and 71 shares are unchanged on the BSE. GAIL, Lupin and Wipro lost 1-3 percent post Q1 earnings. Vedanta and ICICI Bank slipped over 1 percent. However, Sun Pharma, Bajaj Auto, TCS, Axis Bank, Reliance Industries, Cairn India, BPCL and HCL Tech are early gainers. Bank of Baroda rallied over 1 percent after RBI lifted restrictions on FIIs to buy shares in Bank Of Baroda. "Foreign shareholding in Bank Of Baroda now below prescribed threshold limit," said RBI. Asian markets ex-China witnessed selling pressure following downtrend on Wall Street last night. The Indian rupee continued its downtrend and falling towards 64 per dollar mark. It has opened lower by 22 paise at 63.97 per dollar today against 63.75 in previous session. The dollar-rupee pair is trading at five-week low. Pramit Brahmbhatt of Veracity said, "Expect market to trade cautiously today as investors are short of confidence. Investors are expected to trade watchfully ahead of data due for the day." He further added, "Rupee is expected to trade rangebound to slightly weak taking cues from a stronger dollar. Range for the day is seen between 63.20-64/dollar today."
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