Sensex, Nifty open flat; TCS, ITC, BHEL, L&T gainers -- 13 Oct 2015

BHEL, L&T, Dr Reddy's Labs, TCS and ITC are top gainers in the Sensex. Among the losers are Hindalco, Vedanta, Infosys, Tata Steel and ONGC

                                       

The market has opened marginally lower. The Sensex is down 33.62 points at 26855.55. The Nifty slips 21.65 points or 0.3 percent at 8121.95. About 308 shares have advanced, 166 shares declined, and 35 shares are unchanged. BHEL, L&T, Dr Reddy's Labs, TCS and ITC are top gainers in the Sensex. Among the losers are Hindalco, Vedanta, Infosys, Tata Steel and ONGC. The Indian rupee declined further in early trade. The currency has opened at 64.88 per dollar, down 13 paise compared to previous day's closing value of 64.75 a dollar. Ashutosh Raina, HDFC Bank feels the better than expected IIP numbers and CPI on expected lines should lift the sentiment in Indian markets. He says the USD-INR pair has come off from recent highs and is hovering near the lower end of the current range of Rs 64.50-65.50/USD and central bank support can be expected here. The dollar traded near 3-week lows on doubts whether the US Fed would raise interest rates later this year in the face of a weakening global economy. Asian shares stepped back from two-month highs on profit-taking and oil prices regrouped after Monday's big fall, while the dollar was on the defensive as expectations of an imminent US rate hike receded. Gains in utilities offset a retreat in energy shares, leaving US stocks slightly higher as investors remained nervous about third-quarter corporate results. 





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