Dragged by weak global cues after Federal Reserve Chair Janet Yellen congressional testimony, Indian market have opened at lower levels. The Sensex is down 79.05 points or 0.3 percent at 23679.85 and the Nifty slips 24.15 points or 0.3 percent at 7191.55. About 273 shares have advanced, 416 shares declined, and 48 shares are unchanged. BHEL, ICICI Bank, Coal India, M&M and Maruti are losers while Dr Reddy's, SBI, Tata Motors, TCS and Hero are top gainers in the Sensex. The Indian rupee opened lower by 10 paise at 67.95 per dollar versus 67.85 Wednesday. The dollar was broadly lower after comments from Federal Reserve Chair Janet Yellen gave investors no reason to change their minds that the next rate hike will be a long time coming.
KEY STOCKS
BHEL, ICICI Bank, Bharti Airtel, Lupin and Maruti Suzuki have slumped between 1%-3%.
Bharti Airtel has migrated 40,000 of its network sites across India to green technology. Share is down almost 2%.
Lupin has extended losses after the announcement of weak Q3 numbers.
Dr Reddy’s Labs has gained over 2% on buyback plan. SBI and Tata Motors are trading marginally positive ahead of Q3 numbers.
Tata Motors reported 16% increase in its global sales, including that of Jaguar Land Rover (JLR) vehicles, at 93,355 units in January.
Drug maker Cipla's net profit rose 4.6% to Rs 343 crore in Q3 FY16 over same period last year on the back of 12% revenue growth.The result was, however, below street expectations and the company missed estimate both on revenue and profit. Bloomberg had estimated Cipla's profit at Rs 402 crore and the result was 14% below estimate. Shares of Cipla are down over 2%.
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