Sensex, Nifty open flat; Cipla, Dr Reddy's, Glenmark gain --- 30 Oct 2015

Dr Reddys Labs, Cipla, ICICI Bank, Tata Steel, Hindalco, Yes Bank and Grasim were lead gainers in early trade. However, Vedanta, ONGC, ITC, M&M, Maruti Suzuki and Bosch were under pressure.
                       

                           

After a four-day weakness, the market has opened November F&O series on a lacklustre note. The Sensex rose 15.21 points to 26853.35 and the Nifty gained 7.60 points at 8119.35. Dr Reddys Labs, Cipla, ICICI Bank, Tata Steel, Hindalco, Yes Bank and Grasim were lead gainers in early trade. However, Vedanta, ONGC, ITC, M&M, Maruti Suzuki and Bosch were under pressure. The Indian rupee opened with marginal gain of 3 paise at 65.26 per dollar today versus 65.29 Thursday. Pramit Brahmbhatt of Veracity said, "Strength in dollar will keep rupee under pressure. Overnight, US market has traded low as weaker than expected US GDP data has further deepened concerns over global growth which may force local equity market to open weak." He further added, "Rupee range for the day is seen between 64.80-65.80/dollar." The euro edged up against the dollar following upbeat euro zone economic data, while the yen is flat ahead of the Bank Of Japan's monetary policy decision due later today. Asian shares too posted a lackluster open today, with Australia's S&P ASX 200 index hitting its lowest level since October 21, following an uninspiring handover from offshore markets. China's benchmark Shanghai Composite index ticked down 0.2 percent. Among other indexes, the blue-chip CSI300 traded flat, while the Shenzhen Composite edged down 0.2 percent. In Hong Kong, China Huarong Asset Management opened flat in its stock market debut after raising USD 2.3 billion in the city's largest initial public offering (IPO) in 2015. The stock traded at its IPO price of HK$3.09. The Hang Seng index dropped 0.7 percent. US stocks, meanwhile, ended slightly lower on Thursday as the market digested disappointing tech earnings reports and the potential for an interest rate hike in December. The Dow Jones industrial average fell 23.72 points, or 0.13 percent, to 17,755.8, the S&P 500 lost 0.94 points, or 0.04 percent, to 2,089.41 and the Nasdaq Composite dropped 21.42 points, or 0.42 percent, to 5,074.27. 


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