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=================================================TheIndian stock market consolidates with negative bias in early trade
Wednesday ahead of outcome of FOMC's two-day meeting (that will end tonight)
and expiry of January derivative contracts (on Thursday). The Sensex declined
5.32 points to 29565.72 and the Nifty slipped 7.75 points to 8902.75 despite
weak global cues. Tata Motors and Tata Steel falls over a percent while Maruti
gained more than 1.5 percent.
The Indian rupee fell marginally in early trade today. The currency has opened at 61.50 a dollar, down 11 paise compared to previous day's closing value of 61.39 a dollar. Global markets are in the red with US stocks seeing sharp losses on the back of weak economic data and disappointing corporate earnings. European markets ended in the red and Asian Intraday markets too are negative following the US handover.
In other asset classes, the dollar stepped back from its 11-year highs against a basket of currencies after soft spending data and some disappointing earnings casting doubts about the underlying optimism on the US economic outlook. Nymex crude futures fell over 1.5 percent towards USD 45 per barrel after data showed US crude stocks surged by nearly 13 million barrels last week.
The Indian rupee fell marginally in early trade today. The currency has opened at 61.50 a dollar, down 11 paise compared to previous day's closing value of 61.39 a dollar. Global markets are in the red with US stocks seeing sharp losses on the back of weak economic data and disappointing corporate earnings. European markets ended in the red and Asian Intraday markets too are negative following the US handover.
In other asset classes, the dollar stepped back from its 11-year highs against a basket of currencies after soft spending data and some disappointing earnings casting doubts about the underlying optimism on the US economic outlook. Nymex crude futures fell over 1.5 percent towards USD 45 per barrel after data showed US crude stocks surged by nearly 13 million barrels last week.
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