Monday 23 November 2015

Nifty opens below 7850, Sensex drags; Maruti, ICICI dip --- 24 Nov 2015

Maruti, Tata Steel, ICICI Bank, Hindalco and Bharti Airtel are major losers while GAIL, Wipro, HDFC twins, Hero are gainers in the Sensex.


                             
The market has opened lower dragged by weak global cues. The Sensex is down 50.61 points or 0.2 percebt at 25768.73, and the Nifty is down 9.70 points or 0.1 percent at 7839.55. About 351 shares have advanced, 202 shares declined, and 47 shares are unchanged. Maruti, Tata Steel, ICICI Bank, Hindalco and Bharti Airtel are major losers  while GAIL, Wipro, HDFC twins, Hero are gainers in the Sensex. The Indian rupee gained in early trade. It has opened higher by 10 paise at 66.37 per dollar against 66.47 Monday. NS Venkatesh of IDBI Bank said, "Rupee weakened against the dollar yesterday, mainly due to dollar strength against all currencies and demand from importers and closed at 66.47/dollar. The market was also supported by PSU banks selling dollar." Asian shares dragged their feet after a healthcare mega-merger failed to impress investors while the dollar held firm near an eight-month high as investors grew more convinced of a US rate hike next month. Wall Street shares edged down with Pfizer's plan to buy Allergan in a USD 160 billion deal quickly drawing criticism from politicians as a tax dodge.

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