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Sensex, Nifty open flat; Tata Motors, Infosys down 1%

Dr Reddy’s Labs, ICICI Bank, Bajaj Auto, NTPC and TCS are top gainers while Tata Motors, Vedanta, Infosys, Maruti and Hindalco are losers.

09:15

TheNewsInternational Team

The market has opened flat as the Sensex is up 17.51 points at 25886. The Nifty is up 14.60 points at 7871.15. About 456 shares have advanced, 119 shares declined, and 50 shares are unchanged.

Dr Reddy’s Labs, ICICI Bank, Bajaj Auto, NTPC and TCS are top gainers while Tata Motors, Vedanta, Infosys, Maruti and Hindalco are losers.

The Indian rupee has opened with a marginal gain of 3 paise at 66.15 per dollar on Monday versus 66.18 Friday but it could not sustain early gains.

The currency fell to 66.29 a dollar, down 11 paise.

Agam Gupta of StanChart said, “The local government banks will probably buy dollar on dips towards 66.10 limiting the downside there. We expect exporters to sell dollar above 66.30 to hedge their forward receivables.”

“The USD-INR pair should range between 66.10-66.35/dollar today,” he added.

The euro fell against the dollar after two days of gains, pressured by comments from ECB chief Mario Draghi who expressed willingness to add more stimulus to the euro zone economy to raise inflation.

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