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Markets opened on a negative note this Thursday with benchmark index Sensex inching below the psychological level of 18,000 in the opening trades after rupee fell to a yet another life-low of 65 against US dollar.
Risk aversion in equities enhanced after minutes from the Federal Reserve's July policy meeting showed it was still on track to start tapering stimulus as early as next month, sending Treasury yields to two-year highs.
At 9:20AM, 30-share Sensex was down 134 points to trade at 17,773 and the 50-share Nifty declined 38 points at 5,265 levels.
The broader markets declined with mid-caps and small-caps falling 0.1 per cent on the BSE.
The market breadth was negativee. Out of 434 stocks traded, 267 stocks declined while 148 stocks advanced on the BSE.
RUPEE
Despite recent measures from the central bank and the government to defend it, the rupee on Thursday opened lower against the dollar. The partially convertible currency traded at 65.03 from previous close of 64.11 against the dollar in early trades on the Interbank Foreign Exchange market.
GLOBAL MARKETS
Asian stocks fell, with the regional gauge headed for its longest losing streak since November, after Federal Reserve minutes showed officials support stimulus cuts this year if the U.S. economy improves. Shares pared losses after a preliminary report showed China’s manufacturing unexpectedly expanded this month.
Japan’s Nikkei was down 0.7% to 13,326, Singapore’s Straits Times fell 1% to 3,075, China’s Shanghai Composite index was tad up 0.2% at 2,079 while Hong Kong’s Hang Seng shed 0.7% to 21,662 today.
STOCK MOVERS
Domestically, barring FMCG and consumer durable indices, all the key sectoral indices declined with power, auto, oil & gas, healthcare, capital goods lead fall on the BSE.
The gainers included bank shares such as Hindalco Industries gaining 1%, Infosys rose 0.7%, NTPC gained 0.5% on the BSE.
The laggards were SBI and ICICI Bank declining 1% each, GAIL declined 1.2%, Jindal. Steel fell 0.7% on the BSE.
