SENSEX Falling 310.43 points, NIFTY BREAK 8900

The market opened sharply lower on first day of the week with the Sensex falling 310.43 points or 1.05 percent to 29138.52 on weak global cues. Banking & financials and technology stocks pulled the market down. The Nifty shed 95.15 points or 1.06 percent to 8842.60.

TCS, ICICI Bank, HDFC Bank, Axis Bank, HDFC, Infosys, Sun Pharma, L&T, SBI, ONGC, M&M and Sesa Sterlite lost 1-3 percent while Dr Reddy's Labs, Reliance Industries and Coal India gained.
The Indian rupee slipped 45 paise at 62.61 per dollar against Thursday's closing value of 62.16 a dollar. 

Asian markets have already opened on a strong note taking cues from a better than expected US jobs data. We expect the rupee to appreciate today backed by the strong equities but strength in dollar may put some pressure.
Stock markets across Asia, including Japan's Nikkei, Australia, Malaysia and Indonesia fell broadly, with MSCI's broadest index of Asia-Pacific shares outside Japan dropping 1.2 per cent.
In the US, stocks closed down more than 1 percent on Friday as investors weighed jobs report that indicated an interest rate hike could come sooner rather than later.
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