The market has opened flat ahead of Reserve Bank of
India's monetary policy review. The Sensex is up 42.63 points or 0.2 percent at
24867.46, and the Nifty is up 6.40 points or 0.08 percent at 7562.35. About 452 shares have advanced, 253 shares declined, and
32 shares are unchanged.
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Market Oulook:-
- The Indian rupee opened flat at 67.85 per dollar against previous close of 67.84.
- ONGC, GAIL, HDFC, Bajaj Auto and ITC are major losers while Adani Ports, Sun Pharma, Tata Motors, Dr Reddy's Labs and Maruti are gainers in early trade.
- Global manufacturing expansion accelerated slightly but remained weak at the start of 2016 as faster growth in developed markets failed to offset a contraction in emerging economies.
- The Reserve Bank of India (RBI) is expected to wait until after the government's annual budget statement at the end February to decide on whether to cut interest rates further, rather than take the plunge at a policy review on Tuesday.
- Asian shares wobbled on Tuesday as crude oil prices slid on rekindled oversupply fears and after downbeat manufacturing data raised concerns about global momentum.
- Sun Pharma (SUN.NS) launched a generic version of Novartis's (NOVN.VX) leukaemia drug Gleevec on Monday in the United States and hopes to poach a third of sales in six months by pricing the copycat some 30 percent cheaper, Sun's North American chief executive said.
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