Tuesday, 26 April 2016

Nifty opens below 7850, Sensex weak; ITC, ICICI, Maruti down

The market has opened lower as the Sensex is down 77.87 points or 0.3 percent at 25601.06. The Nifty is down 21.90 points or 0.3 percent at 7833.15. About 313 shares have advanced, 357 shares declined, and 32 shares are unchanged.

Hindalco, Bharti, Tata Steel, M&M and Axis Bank are top gainers while ICICI Bank, ITC, GAIL, Maruti and Hero are losers in the Sensex.

The Indian rupee has opened marginally lower at 66.72 a dollar compared to 66.61 a dollar in previous session.

Energy shares dragged Wall Street slightly lower, tracking a decline in oil prices, while earnings and guidance from companies including Perrigo and Xerox also weighed on US stocks.

The Federal Reserve is expected to hold interest rates steady after a two-day meeting set to begin on Tuesday, but policymakers may be more upbeat on the economic outlook, leaving the path open for future rate hikes.

Asia stocks were mixed, after energy plays led to a decline in US equities overnight, and as investors likely took to the sidelines ahead of major central bank monetary policy decisions due later in the week.

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