Sunday 27 September 2015

Sensex, Nifty open flat; Adani Ports gains, Sun Pharma down -- 28 Sep 2015

TCS, Lupin, SBI, Cipla, HDFC Bank, Tech Mahindra, Idea Cellular and Adani Ports gained 1-2 percent. However, Tata Motors, Sun Pharma, Wipro, UltraTech Cement and Cairn India fell 1-2 percent.

                                   
The market has started October series on a flat note Monday after losing 1.4 percent last week. The Sensex rose 41.93 points to 25905.43 and the Nifty gained 10.45 points at 7878.95. About 627 shares have advanced, 204 shares declined, and 48 shares are unchanged on the BSE. TCS, Lupin, SBI, Cipla, HDFC Bank, Tech Mahindra, Idea Cellular and Adani Ports gained 1-2 percent. However, Tata Motors, Sun Pharma, Wipro, UltraTech Cement and Cairn India fell 1-2 percent. The Indian rupee has opened marginally higher by 5 paise at 66.11 per dollar today against 66.16 Thursday. Agam Gupta of Standard Chartered said, "There should be interest from importers and local government banks to buy USD on dips to 65.90 levels. Any upticks to 66.30 will attract interest from exporters to hedge their future dollar receivables." He further added, "The market participants will keenly await the Reserve Bank of India (RBI) policy announcement tomorrow and we expect trade to be rangebound ahead of the RBI meet." Global cues are mixed as the US markets closed mixed on Friday, pressured by a plunge in biotechs, and as investors digested Nike earnings and Fed chair Janet Yellen's remarks on a possible rate hike later this year. The S&P 500 closed marginally lower as a 2.7 percent decline in health-care more than offset a 1.45 percent gain in financials. The Nasdaq Composite too closed down 1 percent. Asian trade, meanwhile, started the week on a subdued note ahead of data from China. Hong Kong, Taiwan and South Korean markets are shut for the mid-autumn festival. The US dollar hit its highest in over five weeks against a basket of major currencies on expectations of a Fed rate hike this year.

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