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Sensex opens flat, Nifty holds 7650; Sun Pharma gains 1%

Sun Pharma, Hindalco, Tata Steel, Coal India and Maruti are top gainers while Cipla, ICICI Bank, ITC, HDFC Bank and Tata Motors are down in the Sensex.

09:15

TheNewsInternational Team

The market has opened flat. The Sensex is up 22.40 points or at 25172.75 and the Nifty is up 9.35 points at 7659.40. About 321 shares have advanced, 110 shares declined, and 34 shares are unchanged.

Sun Pharma, Hindalco, Tata Steel, Coal India and Maruti are top gainers while Cipla, ICICI Bank, ITC, HDFC Bank and Tata Motors are down in the Sensex.

The Indian rupee bounced back morning after hitting lowest closing level since September 3, 2013 in previous session. The currency has opened at 67.03 a dollar against 67.09 per dollar on Monday.

Ashutosh Raina, HDFC Bank feels the Fed rate hike is almost a certainty, but the market will be keenly watching the statement to get an idea about the pace of future hikes.

He says the USD-INR pair has been under pressure breaching the Rs 67/USD figure decisively, and is expected to trade weak ahead of FOMC meet.

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