The market is likely to trade sideways to negative. The Sensex is down 85.40 points at 28384.27, and the Nifty down 37.85 points at 8596.80. Sun Pharma, Bharti Airtel, Wipro, Dr Reddy's Labs and Infosys are top gainers in the Sensex. NTPC, GAIL, BHEL, Tata Motors, Axis Bank are among losers in the Sensex. Asian stocks stalled on Friday as Federal Reserve-inspired gains petered out, while the dollar steadied after rebounding from the shock of a surprisingly dovish US central bank.
Sun Pharma has surged 2.2 per cent at Rs 1,069. Tata Steel has jumped 1.2 per cent at Rs 340. Hindalco has rallied over a per cent at Rs 133.
On the other hand, the Health Care index has spurted nearly a per cent at 17,458. The IT index is marginally up at 11,616.
The market breadth is negative. Out of total 1,414 stocks traded on BSE 777 stocks have declined and 590 stocks have advanced.
In the currency front, the rupee depreciated by five paise at 62.57 against the US dollar in early trade today on fresh demand for the American currency from importers.
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