Sensex, Nifty open flat; Infosys falls again, ITC leads ---- 18 Nov 2015

Infosys fell again on margin warning, down nearly 2 percent. ITC continued to be lead contributor to Sensex's gains, up 0.5 percent.

                             

The market has opened on a flat note following lacklustre global cues Wednesday. The Sensex fell 10.44 points to 25854.03 and the Nifty declined 7.95 points to 7829.60. Infosys fell again on margin warning, down nearly 2 percent. HDFC, TCS, Axis Bank, Hero Motocorp and ONGC were down over 0.4 percent. ITC continued to be lead contributor to Sensex's gains, up 0.5 percent followed by Tata Motors, Lupin. The Indian rupee has opened lower by 10 paise at 66.12 per dollar today against previous days's closing value of 66.02 a dollar. Pramit Brahmbhatt of Veracity said investors are expected to trade cautiously ahead of data due this week. According to him, the rupee is expected to trade weak taking cues from a strong dollar. He sees the range for the rupee between 65.60-66.40/dollar today. On the global front, Asian markets were mixed. Shanghai, Hang Seng, Nikkei and Kospi were marginally positive while Straits Times and Taiwan Weighted fell over 0.5 percent. US stocks closed mixed with slight support from some earning reports that offset pressure from decline in oil prices. On the economic data front, the October’s industrial production declined for second month with a 0.2 percent drop. The dollar gained on expectations that the Federal Reserve will raise interest rates next month.

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