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Market Outlook:-
- The market has opened flat on Wednesday. The Sensex is down 43.78 points or 0.2 percent at 24507.39, and the Nifty is down 3.55 points at 7457.05. About 290 shares have advanced, 147 shares declined, and 33 shares are unchanged.
- BHEL, Adani Ports, Lupin, L&T and Infosys are top gainers in the Sensex. Among the losers are Bajaj Auto, Dr Reddy's Labs, HDFC, ICICI Bank and Tata Motors.
- The Indian rupee opened marginally higher at 67.35 per dollar on Wednesday versus previous close of 67.38.
- Pramit Brahmbhatt of Veracity said, "Weakness in global equity market will cause weakness in domestic equity market and rupee will depreciate further continuing with yesterday's pain. A levels of 67.50/dollar will have meaningful support for rupee."
- Bangalore-based HealthCare Global Enterprises initial public offering (IPO) has opened for subscription. The issue which will close on March 18, priced at Rs 205-218 per share is planning to raise Rs 611 crore to Rs 650 crore.
- US Federal Reserve policymakers are seen leaving short-term interest rates unchanged at a two-dfay policy meeting that began Tuesday, but also to signal that a rate hike is not too far off as long as the job market and inflation continue to improve.
- The US central bank lifted borrowing costs in December for the first time in nearly a decade, but uncertainty over the impact on the US economy of slower growth in China and Europe since the beginning of the year has driven policymakers to hold off on any further rate hikes since then.
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