The market has opened
on flat note. The Sensex is up 13.97 points
at 28128.53, and the Nifty is down 2.55 points or 0.03 percent at
8530.30.
About 686 shares have
advanced, 223 shares declined, and 81 shares are unchanged. ICICI Bank, Maruti,
Bajaj Auto, Tata Motors and Dr Reddy's Labs are top gainers while L&T,
Hero, M&M, BHEL and ONGC are among laggards.
The Indian rupee
recovered in the early trade. It opened higher by 12 paise at 64.01 per dollar
versus 64.13 Friday.
The US data released on
Friday was weaker than expected. We expect a range of 63.90-64.20/dollar. The
demand from local government banks should emerge in the 63.90-63.95/dollar zone
whereas we should continue to see exporters sell USD on upticks towards
64.20/dollar."
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