Sensex, Nifty open flat; Sun Pharma, ITC, L&T laggards -- 2 Nov 2015

M&M, GAIL, Axis Bank, Tata Motors and Vedanta are top gainers in the Sensex. Among the losers are Sun Pharma, ITC, L&T, ONGC and Infosys.


                                     

The market has kickstarted the week on a flat note. The Sensex is up 52.53 points at 26709.36. The Nifty slips 11.55 points at 8054.25. About 347 shares have advanced, 196 shares declined, and 45 shares are unchanged. M&M, GAIL, Axis Bank, Tata Motors and Vedanta are top gainers in the Sensex. Among the losers are Sun Pharma, ITC, L&T, ONGC and Infosys. The Indian rupee slipped in the early trade. It has opened lower by 12 paise at 65.39 per dollar versus 65.27 Friday. Agam Gupta of Standard Chartered said, "USD-INR pair should trade in a range of 65.15-65.45/dollar today. There will probably be good interest from local government banks to buy dollar on dips to the lower end of the range." "Exporters will use up move in the dollar as an opportunity to sell dollar and to hedge their future dollar receivables," he added. Dollar is steady ahead of all-important non-farm payrolls due on Friday, and how that could affect the Federal Reserve's stance on interest rates. Asian stocks held on to losses early Monday, even as a private survey of China's mammoth manufacturing sector indicated factory activity fell for an eighth straight month in October, but at a slower pace. Over the weekend, China's official purchasing managers' index (PMI) came in at 49.8 for October, according to data from the National Bureau of Statistics (NBS), contracting for a third straight month.

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